The capital of the structure has just experienced an increase of 2 billion as planned, but the objective of bringing it to 10.5 billion FCFA has not always been achieved.
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As announced several months ago, the capital of the Central African Stock Exchange (Bvmac) rose. Its Director General informs that it went from 7.042 billion FCFA to 9 billion FCFA, at the end of the Extraordinary General Assembly of this institution held on June 23, 2023.
In effect,the structure’s board of directors had already approved an increase in share capital of 2.03 billion FCFA during an ordinary session held on April 17 in Douala. A decision that followed a meeting held at the end of March with the Governor of the BEAC. Abbas Mahamat Tolli had demanded from the shareholders who were still dragging their feet, to release their subscriptions as soon as possible. It is this action that has just been carried out according to the output of the General Manager of Bvmac. “The examination of the restructuring plan of Bvmac which provides for an increase in the capital of Bvmac of 3.5 billion FCFA was examined by the Extraordinary General Assembly. Of the 3.5 billion FCFA, when we held the Extraordinary General Assembly, we had already collected 2.031 billion FCFA. The share capital of Bvmac has thus increased from 7 to 9 billion FCFA”, writes Louis Banga Ntolo. This appredn-on operation was carried out thanks to the conversion of the debts of the Douala Stock Exchange (Dsx) relating to a loan of 1 billion FCFA with interest of 533 million FCFA. All these resources have been converted into new shares.
Despite the amount of 2 billion FCFA mobilized by the shareholders, the capital targeted by the BVMAC has not always been reached. It is actually a question of going to 10 billion FCFA to finance the restructuring of the sub-regional institution. It will therefore still be necessary to mobilize approximately 1 billion FCFA. Prior to the General Meeting of June 23, 2023, 47.15% of BVMAC’s capital was controlled by public companies, 34.87% by brokerage firms, 10.84% by various shareholders, and 7.21% by insurance companies.
