A Memorandum of Understanding (MOU) was signed in Douala last Saturday between the African Bank of
Development and the Bank of Central African States.
The strengthening of the technical capacities of the stock exchange's players is a sine qua non condition for its
success. To this end, the African Development Bank (AfDB) has just granted CHF 635 million to
the Bank of Central African States (Beac) for the start power plant. The stock exchange company, the Central African Financial Market Supervisory Commission
(Cosumaf) are the main players in the unified financial market targeted by this capacity building
techniques.
Beac Governor Abbas Mahamat Toli said that "capacity building will
essentially consist of the recruitment of technical support that will make it possible to develop a business
plan to revitalize our stock market." In the same vein, it is planned "an organizational audit and
functional, but also institutional at the level of the gendarme of the Stock Exchange that is cosumaf, with for
objective to make a precise diagnosis and identify the actions that will strengthen the capacities of the
scholarship and work better, "said the governor of the Beac.
The same diagnosis will have to be extended to the level of the stock exchange itself in order to draw a model of
business that better corresponds to the economic environment of the Central African sub-region. Ce
technical capacity building will also be able to target companies that will be listed. The
intermediaries of the stock exchange will not be neglected in this process, they who need
accompaniment.
"We have an integration strategy for Central Africa that was recently adopted and is based on
on two pillars. The first is to develop regional infrastructure while the second targets
strengthening the institutional capacity without which the unified financial market cannot thrive",
said AfDB country official Solomane Kone.
Overall, the grant agreement covers technical assistance for the operationalization of the market
unified financial, mobilizing domestic savings and strengthening human capital on the
instruments of the stock exchange.