(Business in Cameroon) – The Central African Stock Exchange (Bvmac) launched a call for tenders last week seeking an external audit of its trading system.
The stock market currently uses a trading platform provided by Euronext, called NSC V 900, which has not been maintained by its developer for several years. “The reliability and transparency of the trading system are essential for maintaining investor confidence and ensuring smooth transactions,” said Cameroonian Louis Banga Ntolo, the General Manager of the regional stock exchange. Bvmac wants an external audit to assess its processes, systems, and the practices of its internal users.
The audit will cover IT systems and security, the trading process, regulatory compliance, risk management, performance and reliability, operations and maintenance, and task separation. The tender is open to sub-regional firms or individual consultants who may work with additional experts if needed.
Applicants must have proven expertise, nationally or internationally. They must hold a master’s degree (at least Bac+5 level) in fields like IT, cybersecurity, information systems management, or auditing of financial systems. Experience in auditing stock market or financial systems is required. Technical and financial offers must be submitted by September 18, 2024.
The duration of the audit will be proposed by the applicants and finalized in agreement with Bvmac’s management. For the General Manager, this audit is crucial for ensuring the stock exchange meets local regulatory standards.
