BY NDUMBE BELL JOSEPH GASTON IN DOUALA
Twin transactions negotiated and facilitated at the Central African Stock Exchange (BVMAC), for the State of Gabon’s bonds worth the value of FCFA 175 billion at an interest rate of EOG 6.25% net 2022-28 and the newly quoted subsidiary Re-Insurance Commercial Company of Gabon whose shares were bought at a total value of FCFA 5 billion, were the focal points of the ceremony that was massively attended by regional economic investors in CEMAC, heads of enterprises and senior administrators of banks, Cosumaf, CIMA, employers associations, insurance companies and a host of others.
Expressing his gratitude to the invitees on behalf of the BVMAC Board Chair Henri Claude Oyima who was obliged to be absent, the General Manager of BVMAC Mr Ntolo acknowledged the presence of the Littoral Governor Samuel Ivaha Diboua and his cohorts at the same time stretching a hand of thanks to Ambassador Nagoum Yamassoum who heads COSUMAF (the regulator of such financial transaction in CEMAC) for having made it possible using his good offices to have authorised these operations recently which is not generally amongst their transactions days of Mondays, Wednesdays and Fridays every week.
The BVMAC G.M. estimated that the State of Gabon’s search for debt financing within the regional grouping is a step in the right direction and should act as a stimulus to change the mind set of other brotherly nations and investors to emulate this search for their problem solving endeavours. Mr Ntolo estimated accurately that with this entry today, the global debt (bonds) listings has amounted to FCFA 1047 billion for the ten of them in BVMAC.
Similarly, the General Manager reported that with a total of 250.000 shares brought in by the listing of the Re-Insurance Commercial Company (SCG-Re),share totals for the seven companies listed in the Central African Stock Exchange (BVMAC) have reached global capital of FCFA 651 billion including some more analysis.
The BVMAC General Manager also called on the Financial Adviser Linis Lendjoungou, representative of the Minister of the Economy of Gabon, to extend his appreciation to hierarchy. In the same vein, the ingenuity and professionalism of the S.C.G-Re General Manager Dr. Andrew Gwondog and his eloquent speech to take regional businesses beyond their frontiers and to impact stronger on our communities, was highly appreciated by the BVMAC G.M.
In her speech presented by the Financial adviser the Minister of the Gabonese Economy stated the mark of confidence building directed to SCG-Re and the confidence that Gabon has for BVMAC, the only regional stock exchange, and all those who contributed to their success.