Jean-Claude Ngbwa, chairman of the Cameroon Financial Markets Commission (CMF), took part in the 16th session of the Francophone Institute for Financial Regulation (IFREFI) in Libreville in May this year and made a point on the state of development of his market which he considers without concession.
“The proposed tax incentives were not ultimately so important for companies with a majority of family groups whose promoters are reluctant to lose control if they are listed on the DSX [Douala Stock Exchange]” , Said the president of the CMF. According to him, the failure to find a way leads to considering ways for a new wave of state-owned enterprises to be privatized by the market. Jean-Claude Ngbwa proposed, among other things, “an obligation to be sent to banks for listing, as well as the creation of bridges with the regional market“.
The banking sector in Cameroon currently has 15 traditional banks. This represents a windfall for the financial market according to the CMF. Nevertheless, Ngbwa remains optimistic because he says he sees a resurgence of activities in the current year because “there is a real hope of new quotations.“