(Business in Cameroon) - The Bank of Central African States (BEAC) has just launched the recruitment of a Director General (DG) for the Securities Exchange of Central Africa (BVMAC), headquartered in Douala, Cameroon.  

The BVMAC was established in July 2019 following the merger of the former Douala Stock-Exchange (DSX) and the former Central African Stock Exchange created in Libreville, Gabon. This merger is expected to serve as an impetus to broaden and deepen CEMAC's financial markets and ensure better access to liquidity for listed entities.

Cameroonian Jean Claude Ngbwa, former Secretary-General of the Inter African Conference for the Insurance Market (CIMA) was appointed as the Director-General of this common exchange and the chairmanship of the Board of Directors was entrusted to Gabonese Henri-Claude Oyima, Chairman and CEO of BGFI Bank Group.

“The new Director-General will be responsible for establishing and executing plans to achieve the strategic objectives of the exchange, namely competitiveness, operational efficiency, diversification, and vigorous growth. The Director-General will have to provide insight and direction to increase liquidity and deepen CEMAC's financial markets. Under the authority of the Board of Directors, the director will be responsible for managing, supervising and promoting the activities of the exchange for the benefit of its members, all stakeholders and the public that invests in it,” the BEAC indicates.  

The full-time contract will be for one year, renewable, and the starting date is scheduled for March 2020, with the first three months constituting a probationary period. The workplace is located at the BVMAC headquarters in Douala.

Required qualifications

Applicants must provide information demonstrating that they have the required qualifications and relevant experience to carry out this assignment, in particular, hold a post-graduate or Master's degree in business administration or an equivalent diploma ; have 10 years of experience directly related to the capital markets (stock exchange, regulator or capital market operator) or 15 years of experience in the financial sector, of which at least five years in senior management or executive positions ; have a thorough knowledge of the functioning of CEMAC financial institutions and be a citizen of one of its member countries.

Fluency in French and English is also required and some knowledge of Spanish or Arabic would be an advantage. Expressions of interest written in French should be submitted to the address mentioned at the BEAC headquarters in Yaoundé or sent by e-mail to the Central Bank no later than January 15, 2020, at 2 p.m. (Cameroon time).

The selection will be made in two stages. The first consists of the evaluation of candidates by a recruitment agency on the basis of an application letter, a CV and any other documentary evidence of experience. The second stage will be devoted to the interviews of shortlisted candidates. Eligible candidates who are nationals of CEMAC will be interviewed by the Board of Directors of the Exchange. The Board will make the final selection of the candidate best qualified to be appointed to the post of Director-General.

Sylvain Andzongo