(Business in Cameroon) - On July 2, Cameroonian bank Afriland First Bank informed that the Central African Financial Market Supervisory Commission (Cosumaf) approved its subsidiary "Afriland Bourse & Investment" as a brokerage firm on the financial market in CEMAC (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad).
The purpose of this new brokerage firm is to offer financial assets management and collective investment in transferable securities services, stock exchange operations, financial engineering, financial intermediation and related activities, investment services, and other financial activities.
The new entity created by Afriland First Bank, which is the leader of the Cameroonian banking sector, offers its corporate and institutional clients an alternative financing mechanism thanks to which they can raise funds on the financial markets. It also offers investment products to individuals.
The banking group appointed Pierre Kammogne (photo) as the first Chief Executive Officer (CEO) who would lead "Afriland Bourse & Investment". This choice was also approved by the Cosumaf. The new CEO is a graduate in management sciences from the Catholic University of Central Africa and the Institute of Economic and Accounting Techniques of Paris. He has 20 years of experience in the banking sector.
At Afriland First Bank, he has held the positions of Director or Coordinator in the Treasury, International Operations, Human Resources, Corporate and Business Development departments.