(Business in Cameroon) - From October 12 to 14, in Douala, the Central African Financial Market Oversight Commission (COSUMAF) will organize a workshop in the framework of the World Investor Week, a global event aimed at promoting financial literacy and investor protection.
“The World Investor Week is an opportunity to promote the various initiatives and remind investors of some key good investment habits. The aim is to inform the general public to help them understand financial concepts and better protect them,” explains Nagoum Yamassoum, chairman of the COSUMAF.
According to the latter, the theme retained for the first edition in Cameroon follows the guidelines issued by the International Organization of Securities Commissions (IOSCO). This theme is: “L’éducation boursière et la protection de l’investisseur à l’ère de la digitalisation des instruments financiers” (Investor education and protection in the era of digitalized financial instruments).
According to the executive, in the CEMAC Zone, this week could boost the mobilization of domestic savings and raise potential and experienced investors’ awareness in an environment marked by the arrival of new financial instruments and funding mechanisms like cryptocurrency and crowdfunding.
Currently, in the CEMAC region, the stock investment culture is still poor. Faced with that fact, in October 2019, the management board of the Central African Stock Exchange (BVMAC) asked the Managing director to take every possible measure to stimulate the market by notably taking part in state companies’ asset disposals organized by members of the CEMAC zone (Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad).