(Business in Cameroon) – Louis Banga Ntolo, CEO of the Central African Stock Exchange (BVMAC), is pushing two major initiatives to stimulate growth in the region’s financial market: increased digitalization and splitting the shares of listed companies.
“This reform is a top priority for 2025. We started working on it nearly two years ago, and it’s now close to completion. We’ve already secured partnerships to help us automate key processes,” he revealed in an exclusive interview set to be published soon in Business in Cameroon.
These two measures go hand in hand. Right now, BVMAC has six listed companies. The lowest-priced share (SCG-RE) is at CFA21,500, while the most expensive (BANGE – National Bank of Equatorial Guinea) is at CFA207,300. With such high prices, small investors struggle to enter the market.
By splitting these shares, BVMAC aims to increase trading volume and create more opportunities for market participants, including the 25 brokerage firms, fixed-capital investment companies, and 15 asset managers operating in the CEMAC zone. Currently, they operate in a narrow market that lacks dynamism.
However, an increase in trading volume will require adjustments in how transactions are handled. Right now, stock investments must go through a bank account, a system that doesn’t fully leverage growing financial inclusion, particularly through mobile savings platforms.
The digitalization effort will transition the market from a fixed system to a continuous one. This means introducing online trading platforms and allowing transactions via mobile payment solutions like Orange Money and MTN Mobile Money.
Currently, trading volumes remain low, limiting BVMAC’s revenue, which relies heavily on states that often fall behind on payments. Stock splits will increase the number of shares available for trading, while digitalization will streamline transactions, making the market more efficient and valuable for all stakeholders.
