BVMAC: will the BGFI effect inspire Chadian companies?
BGFIBank group's stock market listing gave the regional financial market a real boost. The challenge now is to build on it: attract new companies, including Chadian ones, and keep trading alive.
Translated from French. Lire en français
A turning point for the regional exchange
The Central African Stock Exchange (BVMAC), based in Douala, was created in 2019 by merging the Douala and Libreville exchanges. It runs the financial market shared by the six CEMAC countries.
On 7 May 2026, BGFI Holding Corporation, the zone's largest banking group, listed on it, raising about 45 billion FCFA. The immediate effect: market capitalisation tripled to more than 1,700 billion FCFA.
A market that is still illiquid
This success should not hide the weaknesses. The value of trades fell by 85% in the second quarter of 2026. In other words, many investors buy to hold their shares, and trading remains rare. Yet a market where it is hard to sell attracts fewer new investors.
The next candidates
Several companies are preparing to list: Cameroonian microfinance institution Renaprov Finance, Aéroports du Cameroun, Commercial Bank Cameroon and Gabon Power Company. For its part, the BEAC launched a call in March 2026 to cover the listing costs of four companies, with 142.9 million FCFA mobilised thanks to the African Development Bank. The number of brokerage firms is also growing, as in Congo with the launch of BPC Bourse in August.
What about Chadian companies?
Chad remains little represented on the exchange. For a Chadian company, listing would make it possible to raise funds without taking on debt, gain visibility and open its capital to local savers. But it requires audited accounts, transparent governance and regular financial reporting. The support schemes set up by the BVMAC and the BEAC are an opportunity for the country's large companies and state-owned enterprises.
Key figures
- BGFI Holding listing: about 45 billion FCFA raised (7 May 2026)
- BVMAC market capitalisation: more than 1,700 billion FCFA
- Trading in Q2 2026: -85%
- Published on:
- Wednesday, 28 October 2026
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