The Bank of Central African States (BEAC) announced on March 17, 2026, a call for expressions of interest to select four companies from CEMAC (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad) that will benefit from having their initial public offering (IPO) costs covered [cite: ]. This initiative aims to encourage companies to join the Central African Stock Exchange (Bvmac), located in Douala [cite: ].
To be eligible, companies must submit a file including a funding request, a resolution authorizing the public offering to the Bvmac, a commitment to list the company's securities, a company profile, and certified financial statements for the past three years. The deadline for submitting applications is April 30, 2026, at the BEAC headquarters in Yaoundé [cite: ].
This incentive mechanism is part of the Project to Support the Financial Market of Central Africa (Pamfuac), funded by the African Development Bank (AfDB) and led by the BEAC [cite: ]. Pamfuac aims to develop the regional financial market by facilitating capital mobilization and strengthening market infrastructure. An amount of 142.9 million FCFA is specifically allocated to cover the IPO costs of selected companies [cite: ].
This initiative could revive the IPO projects of 15 public and semi-public companies in CEMAC, announced since 2020 but remaining pending [cite: ]. In 2018, the states of the sub-region committed to identifying companies for admission to the Bvmac from 2020, but only five countries have unveiled a list, without real implementation [cite: ].
Beyond the financial aspect, this approach demonstrates the willingness of regional monetary authorities to facilitate access to the stock market. For the Bvmac, the challenge is to increase the number of listed companies and strengthen the credibility of a unified financial market across CEMAC [cite: ]. The Central African Securities Exchange (BVMAC) was created on June 27, 2003, with the mission of financing the economies of the CEMAC countries. In 2021, the BVMAC announced the creation of a stock exchange academy in Douala.
