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Yaoundé - 24 February 2024 -
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E. Guinea’s Bange drives over 3,200% MoM surge in Bvmac transactions in April 2023

E. Guinea’s Bange drives over 3,200% MoM surge in Bvmac transactions in April 2023
  • Comments   -   Tuesday, 16 May 2023 15:55

(Business in Cameroon) - The total value of transactions carried out on the equity segment of the regional stock market Bvmac reached CFA1.052 billion in April 2023, according to the official listing bulletin (BOC). This represents a surge of over 3,290% compared to the CFA31.1 million recorded in March. According to the same source, 5,683 securities were traded during the period under review, up 6060% compared to 805 the previous month.

This performance was mainly driven by the Bange stock, which accounted for 98.3% of all transactions. In detail, investors acquired 5,000 shares of this stock at CFA206,850 per share, resulting in a total value of CFA1.034 billion. This is the largest transaction recorded in this market since the beginning of the year. The SCG-Ré and Safacam securities also contributed to this positive trend, with respective transaction values of CFA6.5 million and CFA6.6 million over the period.

Opacity

However, there is no clear explanation for this sudden interest of investors in Bange stocks, given that none of the listed companies regularly disclose their financial data, in violation of the disclosure requirements stipulated by Article 71 of the Bvmac regulations. What is known is that following its strategic and financial plan for 2019-2024, the E. Guinean bank has implemented an ambitious plan to expand its activities in the Cemac countries, as well as in West Africa and Europe. To finance this expansion, Bange increased its share capital from CFA20 billion to CFA55.8 billion in August 2022. Additionally, the bank aims to achieve a profit of nearly CFA20 billion by 2024, compared to CFA4.7 billion in 2020.

Stock market activity in CEMAC could be further boosted in the coming years with the listing of some fifteen public companies from Cameroon (CBC, CHC, PAD, Sodecoton, ADC), Congo (E2C, CEC, Congo Télécom, Congolaise des Eaux), Central African Republic (Enerca, Sodeca, Socatel), Equatorial Guinea (Segesa, Getesa) and Gabon (GPC, FMCT). In preparation for these arrivals, Bvmac's General Manager, Louis Banga Ntolo, has announced a series of reforms. These include an increase in the number of days of quotation (from 3 to 5 days), a switch from fixing to continuous quotation, the introduction of a stock market index that groups all listed securities, and the splitting of share values.

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