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BVMAC · Central Africa (CEMAC)

Best Stockbrokers in Central Africa (CEMAC)

The BVMAC is the single regional securities exchange for the six-nation CEMAC bloc — Cameroon, Gabon, Congo-Brazzaville, Chad, the Central African Republic and Equatorial Guinea. Headquartered in Douala, Cameroon, it trades government and corporate bonds plus a small number of listed equities, all denominated in the CFA franc (XAF). The market is supervised by the regional regulator COSUMAF, and brokers ('sociétés de bourse') are licensed across the member states.

Regulator: Commission de Surveillance du Marché Financier de l'Afrique Centrale (COSUMAF)
Depository: BVMAC Dépositaire Central (regional central securities depository)

7 regulated brokers covering BVMAC

Every broker listed below is licensed by Commission de Surveillance du Marché Financier de l'Afrique Centrale (COSUMAF). We do not rank them, order is informational only. Always verify current licensing on the regulator's website before opening an account.

EDC Investment Corporation

Bank-Affiliated

The Ecobank group's CEMAC investment-banking arm, based in Douala. Bond and equity execution, brokerage and corporate finance on the BVMAC.

Best for:
Institutional and corporate investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit EDC Investment Corporation →

Afriland Bourse & Investissement

Bank-Affiliated

Brokerage subsidiary of Afriland First Bank, based in Yaoundé. One of the most active sociétés de bourse on the BVMAC for bonds and equities.

Best for:
Retail, corporate and institutional investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit Afriland Bourse & Investissement →

Attijari Securities Central Africa (ASCA)

Bank-Affiliated

Central African brokerage arm of the Attijariwafa Bank group. BVMAC execution, fixed income and advisory.

Best for:
Institutional and cross-border investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit Attijari Securities Central Africa (ASCA) →

Upline Securities Central Africa (USCA)

Bank-Affiliated

CEMAC securities arm linked to Morocco's BCP/Upline group. Bond and equity brokerage on the BVMAC.

Best for:
Institutional investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit Upline Securities Central Africa (USCA) →

SG Capital Securities Central Africa

Bank-Affiliated

The Société Générale group's CEMAC brokerage, offering BVMAC execution and fixed-income services.

Best for:
Institutional and corporate investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit SG Capital Securities Central Africa →

BGFI Bourse

Bank-Affiliated

Brokerage arm of the BGFIBank group, based in Libreville, Gabon. Active in BVMAC bond and equity markets.

Best for:
Gabonese and regional investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit BGFI Bourse →

Financia Capital

Traditional Broker

Independent Cameroonian société de bourse offering BVMAC brokerage and corporate-finance services.

Best for:
Corporate issuers and investors
Mobile app:
No
Access:
Foreign investors via custodian
Visit Financia Capital →

How to open an account on the BVMAC

  1. 1

    Choose a COSUMAF-licensed broker

    Open a securities account with a société de bourse licensed in any of the six CEMAC member states.

  2. 2

    Securities account + central depository

    Your broker registers you with the BVMAC central depository, where holdings are held in dematerialised form.

  3. 3

    Foreign investors: custodian + BEAC FX rules

    Non-residents typically invest via a custodian. Cross-border flows in and out of XAF are subject to BEAC (the regional central bank) foreign-exchange regulations.

  4. 4

    Fund and trade

    Fund in CFA francs (XAF) through a CEMAC bank account; your broker executes on the BVMAC.

KYC documents you'll need

  • Valid passport or national ID
  • Proof of address
  • Tax identification (member-state NIU)
  • Source-of-funds declaration

Fees and tax

CurrencyCFA franc BEAC (XAF), pegged to the euro
Dividend withholding taxVaries by CEMAC member state
Typical brokerage commissionNegotiated, ~1% to 1.5%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Which countries does the BVMAC cover?

The BVMAC is the single regional exchange for the six CEMAC countries: Cameroon, Gabon, Congo-Brazzaville, Chad, the Central African Republic and Equatorial Guinea. It is headquartered in Douala, Cameroon.

What currency are BVMAC securities traded in?

All BVMAC securities are denominated in the Central African CFA franc (XAF), which is pegged to the euro at a fixed rate — removing euro-based FX risk.

Can foreign investors access the BVMAC?

Yes, generally through a licensed broker and a custodian. Moving funds in and out of the CEMAC zone is subject to the BEAC's regional foreign-exchange regulations, so non-residents should plan settlement and repatriation with their broker.

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