(Business in Cameroon) - The BEAC recently launched the recruitment of a consultant that will elaborate on a business plan for the central custodian of CEMAC unified stock exchange (BVMAC).
This business plan is part of the second phase of the unification of stock exchanges operating within the CEMAC region.
The central custodian of the market is the body in charge of the organization and management of negotiations carried out on the exchange. It is a central component in the organisation of securities flows in a financial market and is all the more important in an environment of dematerialized securities.
Since the creation of the unified CEMAC stock exchange in June 2019, BEAC has been assuming the role of the central custodian of the BVMAC. Pending the approval of another institution for that role, the BEAC’s mandate as central custodian is scheduled to end in 2022.
"The consultant's mission will, therefore, consist of providing support for the restructuration and optimization of the central custodian into an autonomous entity by elaborating on a business plan. This document [business plan] must define the strategic and operational management of a budding or growing company by following a rigorous and progressive approach," the BEAC explains.
It specifies that the consultant must elaborate all the plans and actions which would help answer, at all time, the main organization, viability, profitability and development issues a company may encounter. The estimated duration of the business plan elaboration process is 3 months and interested parties must send their applications to the BEAC, via email, by March 26, 2020.
Let’s note that at the end of the first phase of the unification process in 2019, there was an effective institutional and physical merger of the two stock exchanges in Cameroon (DSX) and Gabon (BVMAC). The two regulators (Cosumaf and CMF) and the three central depositories (Caisse Autonome d'Amortissement du Cameroun, BVMAC and Cellule de règlement et de conservation des titres) were also unified. The second phase consists of the identification and activation of the main processes that will boost the regional financial market.