The Director General (CEO) of the Central African Securities Exchange (Bvmac), based in Douala in Cameroon, Louis Banga Ntolo, announced at the beginning of March 2025, three plans to IPO new companies.

Louis Banga Ntolo quoted the Gabonese banking group BGFI Holding and the Cameroonian banker CBC, without revealing the identity of the third. He thus indicated the following: “beyond of these two transactions (BGFI and CBC, Editor's note), I can tell you that another shareholder and director of Bvmac, an insurer, has also announced his intention to go public in 2025 or 2026, selling 40% of his company on the regional market. (...) I would like to give the first word (of the announcement) to the executive of this company. For those who know the activity and the corporate bodies of the stock exchange, if we are talking about an insurer who is a shareholder and a director, I think everyone will know it very quickly. I would not want it to be the stock exchange that solemnly announces something that must be announced by the institution itself, because it may be the opinion of the administrator, but it must first be approved internally at the level of its governance bodies.”

According to the analysis of the constitution of the Board of Directors and the share capital of Bvmac, as well as the confirmations received from authorized sources, eyes are converging on the Cameroonian company Zenithe Insurance. Only Zenithe Insurance owns 2.16% of the assets of Bvmac (the largest share among shareholder insurers, editor's note), according to the 2023 activity report of this stock exchange. Zenithe Insurance is among the leaders in non-life insurance in Cameroon, according to the latest market data published by the Association of Insurance Companies of Cameroon (ASAC). Zenithe Insurance ᵉ ranked 3rd in the first half of 2024, out of the 17 companies operating in this branch