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Yaoundé - 14 July 2020 -
Finance

Electronic banking operator Omoa mandates Société Générale for the dematerialization of its securities

Electronic banking operator Omoa mandates Société Générale for the dematerialization of its securities
  • Comments   -   Wednesday, 29 April 2020 13:01

(Business in Cameroon) - Omoa Cameroun, a subsidiary of Ivorian electronic banking group Omoa, announces that it has mandated Société Générale Cameroun (SGC) to assist it in the dematerialization of its securities.

Omoa Cameroun indicates that, via this service (whose cost has not been revealed), it intends to comply with the law N° 2014/007 of April 23, 2014. The latter stipulates that securities, i.e. shares or bonds, must be in electronic form.

That way, shares sold or purchased will circulate through book entries and transfers from one security account to another. Digitized securities are centralized at the central depository, which is currently the Sinking Fund of Cameroon (CAA).

Omoa Cameroun is active in the following areas: integration of electronic banking solutions, distribution of major brands of automated teller machines and counters, production and distribution of magnetic banking cards for banks and microfinance institutions.

Founded in 2001 in Côte d'Ivoire, Omoa Group is present in 12 African countries including Burkina Faso, Benin, Togo, Niger, Cameroon, Congo, DR Congo, and Angola.

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