The Bank of Central African States (BEAC) has launched a new initiative to cover the costs of stock market listings for four companies in the Cemac region, in a bid to revive activity on the Central African Stock Exchange (Bvmac).
In a call for expressions of interest published on March 17, the central bank said it would select four companies to benefit from full support for their initial public offering (IPO) expenses. The measure is presented as an incentive to encourage more firms to list on the Douala-based exchange.
To qualify, applicants must submit a detailed file including a formal funding request, board approval for a public offering on Bvmac, a commitment to list their shares, company identification documents, and certified financial statements for the past three years. Applications must be filed at BEAC headquarters in Yaoundé by April 30, 2026.
A tool to revive listings
The initiative is part of the Central African Financial Market Support Project (Pamfuac), led by BEAC and financed by the African Development Bank. The broader program aims to develop the regional financial market by mobilizing more capital, introducing new instruments, and strengthening market infrastructure.
As part of this effort, CFA142.9 million has been set aside to help companies cover IPO-related costs, one of the key barriers to listing.
The program could provide an opening for the 15 state-owned and semi-public companies across Cemac that have been identified for listing since 2020 but have yet to move forward. In 2018, member states committed to preparing companies for market entry starting in 2020, but progress has remained limited.
Beyond financial support, the move reflects a broader push by regional monetary authorities to address structural obstacles to equity market access. For Bvmac, which remains shallow on the equities side, the challenge is not only to increase the number of listed companies but also to strengthen confidence in the region’s ambition to build a unified financial market.
BRM
