(Business in Cameroon) - The Inter Patronal Groupings of Cameroon (GICAM) announces that it has obtained the suspension of the process for dematerialization of securities in Cameroon.

Indeed, in a note published by the grouping, it is revealed that Célestin Tawamba, president of GICAM, and Richard Evina Obam, director of the National debt amortization fund CAA in charge of Cameroon’s debt, agreed to “postpone the application of the new pricing conditions of the securities’ dematerialisation process in Cameroon”.

In addition, Richard Evina Obam agreed for the organization of another meeting with companies’ managers around mid-September 2018 to decide on the appropriate terms for this operation. Let’s remind that this suspension follows the series of concerns addressed to GICAM by some companies. They wanted an extension of the deadline so as to better prepare themselves for the dematerialization operation.

Let’s remind that the new regulatory framework recommends the issuing companies to codify and register their issuance with the national debt amortization fund. The shareholders will now have to just register in the books instead of carrying physical certificates.

S.A