(Business in Cameroon) – Trading activity on the Central African Financial Market (BVMAC), based in Douala, dropped dramatically in the first quarter of 2025. The value of transactions on the regional stock exchange fell by 98% compared to the same period in 2024.
According to the exchange’s latest quarterly bulletin, the total trade value dropped from CFA14.268 billion to just CFA251 million. The number of shares traded plummeted from 1.5 million to only 9,651, while the number of transactions slid from 82 to 74. The steep decline also dragged down the BVMAC All Share index, which posted a negative average change of -6.91%.
The exchange explained that the weak performance could have been even worse without continued investor interest in Cameroon-based stocks. Most of the market activity focused on shares from five companies—Socapalm, Safacam, La Régionale, SEMC, and SCG-Ré. All but one of these companies are based in Cameroon, with four of them appearing in the top five most-traded stocks during the period. These include Socapalm and Safacam, both palm oil and rubber producers controlled by Luxembourg’s Socfin Group; La Régionale, a local banking group; SEMC, a bottled water company majority-owned by France’s Castel Group.
Meanwhile, the bond segment of the market was completely inactive. No trades were recorded on government or regional development bank bonds, such as those issued by the Central African States Development Bank (BDEAC).
Analysts at BVMAC believe the modest investor interest in certain Cameroon-listed companies may be due to falling stock prices, which made some shares more attractive. Socapalm and SEMC, in particular, were highlighted as major drivers behind the index’s decline due to notable drops in their share prices.
The weak first quarter adds to a pattern of sluggish performance that has plagued BVMAC for years. Despite some structural progress, the market has struggled to grow. To help turn things around, experts are calling for several reforms. These include digitizing trading to make access easier—especially for the diaspora—and splitting high-priced shares to open up opportunities for smaller investors.
Some of these reforms have already been incorporated into the exchange’s new general regulations, which were approved by the market regulator COSUMAF on March 5, 2025, and adopted by BVMAC’s board on April 24.
