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Yaoundé - 29 March 2024 -
Agriculture

Private investors should control 80% of CCX capital

Private investors should control 80% of CCX capital
  • Comments   -   Sunday, 29 March 2015 18:56

(Business in Cameroon) - In its proposals to the Cameroonian government to launch Cameroon Commodities Exchange (CCX), the country’s agricultural commodities stock exchange, the Eleni LLC firm, which is helping the government with the project, is suggesting that the shareholding of the stock exchange should reflect public private partnership, “which encourages shared ownership by public and private sector investors with the State and State-run institutions being minority shareholders.”

Basically, according to the Eleni LLC firm, the future stock exchange’s capital should be 80% owned by a consortium of private sector investors, against 10% owned by the State and 10% by the stock exchange’s staff. The firm also recommended that the private sector consortium, which would be majority shareholder, should comprise 4 to 6 investors “with equal participation” so that “no investor can be a majority shareholder and no possibility of grouped voting.”

Presented as the future agricultural commodities trading hub within the CEMAC zone, the CCX is expected to be the transactional platform for eight agricultural products that the Eleni suggested for gradual introduction over a 4-year period: cocoa and corn (1st year), sorghum, millet and dry cassava (2nd year), palm oil and rice paddies (3rd year) and cotton (4th year).

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