BVMAC, the Central African Securities Exchange

BVMAC: definition and headquarters in Douala

The BVMAC (Bourse des valeurs mobilières de l'Afrique centrale, the Central African Securities Exchange) is the regional stock exchange of the six CEMAC states: Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad. A public limited company with a board of directors, it is headquartered in Douala, Cameroon, in the Bourse building, and was created by merging the Douala and Libreville exchanges.

BVMAC markets and brokerage firms

Two markets are offered: the equity market and the bond market. Compartment A, known as Premium, welcomed the listing of BGFI Holding Corporation in 2026. Orders are routed through brokerage firms, grouped by country: Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.

The managing director is Louis Banga Ntolo. The market is supervised by COSUMAF, the financial market regulator for Central Africa, within the framework of UMAC regulations.

Capital and shareholders

Its capital stands at CFA franc 9,582,900,000. An increase of CFA franc 509.9 million, approved on 7 May 2026, raised it from CFA franc 9.073 billion to CFA franc 9.583 billion. Eight brokerage firms joined the capital with 40 million each, including BEM Securities, SG Capital, CCA Bourse, Almasi Capital and Fedhen Capital.

About twenty existing shareholders, among them Ecobank, Afriland First Bank, SCB Cameroun, Citibank Cameroon, BGFI Bourse, the SNPC and Activa Assurances, contributed around 189.9 million. The shareholders thus include brokerage firms, financial institutions, insurers and state-owned companies.

Recent listings on the BVMAC

The first listing of BGFI Holding Corporation, on 7 May 2026, covered 566,561 shares admitted to compartment A under the code BGFI HC, for a total value of around CFA franc 45.3 billion. That day, 607 shares were traded at CFA franc 82,000, which is 2.5% above the reference price of CFA franc 80,000.

At the end of 2025, six companies were listed on the equity market. In the second quarter of 2026, all seven listed companies were traded; equities accounted for 316 of the 322 transactions, against only six transactions in bonds. The most active stocks were BGFI Holding Corporation, Socapalm, Safacam and SCG-Ré.

Market activity and results

According to the BVMAC annual report, market capitalisation reached CFA franc 477.7 billion in 2025, up 7.9%. The value traded stood at CFA franc 739.8 million for 23,817 shares, which is 19% and 51% more than in 2024. Revenue of CFA franc 927.3 million remained below expenses: the net loss of CFA franc 454.5 million rose by 41%.

In the second quarter of 2026, the value of transactions fell by 85.1% to about CFA franc 422 million, as the average size of trades dropped sharply. The BVMAC All Share index moved from 1,147.2 to 1,156.11 points.