BVMAC closed 2023 with 4% gain in market capitalization
The BVMAC, the regional stock exchange for CEMAC zone countries, concluded 2023 with a floating market capitalization of 66.447 billion FCFA, marking a modest 4.2% year-on-year increase compared to the significant 76% surge in 2022 when it stood at 63.734 billion FCFA.
This marginal growth is primarily attributed to the initial public offering (IPO) of SCG-Ré on January 26, 2023, involving 250,000 equity securities. Additionally, the rise in share prices for SOCAPALM (+6.1%), BANGE (+0.18%), and SAFACAM (+8.1%) contributed to the overall increase.
However, the market capitalization of SEMC experienced a 2.2% decline, settling at 1.762 billion FCFA, down from 1.803 billion FCFA a year earlier. La Régionale's share price remained unchanged at 42,500 FCFA over the year.
Key Takeaways
BVMAC (Bourse des valeurs mobilières de l’Afrique centrale) is shared by six member states in the Economic and Monetary Community of Central Africa (CEMAC). These are Cameroon, Gabon, Chad, Central African Republic, Republic of the Congo, and Equatorial Guinea. Along with BRVM, both markets operate on the CFA Franc, the common currency for all 14 francophone African member states. The West and Central African CFA francs are pegged to the French currency (Euro), offering foreign exchange stability to investors in the country. The operations on the stock exchanges are entirely digital, effectively making them a technical success story on the continent!
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