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Yaoundé - 02 October 2023 -
Finance

Cameroon’s CCA Bourse becomes BVMAC-approved brokerage firm

Cameroon’s CCA Bourse becomes BVMAC-approved brokerage firm
  • Comments   -   Thursday, 20 July 2023 14:22

(Business in Cameroon) - CCA Bourse, a subsidiary of Cameroonian bank CCA Bank, can now operate on the regional exchange BVMAC as a brokerage firm. On Monday, July 17, the BVMAC announced that the central bank (BEAC), acting as the central depository, granted the authorization and issued a code for the operations of that brokerage firm. 

The authorization marks the completion of a process that aimed to make CCA Bourse compliant with laws, after it received the regional financial market oversight commission COSUMAF’s approval to operate as a brokerage firm (in September 2022).

Brokerage firms are intermediaries in the financial market. According to the BVMAC, their activities include trading, investment, order transmission and reception, account management, portfolio management, asset management advice, and investment solicitation. 

BRM

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