The African Development Bank (AfDB) has just granted the Bank of Central African States (BEAC) a grant of nearly 535 million CFA francs to strengthen the regional financial market.

This aid obtained from the Assistance Fund for the African Private Sector (Fapa), financed by Japan and Austria and housed within the AfDB, should make it possible to implement three revitalization of the public securities market, support scholarship and support for project management.

The Central African Unified Stock Exchange (BVMAC), the Central African Financial Market Supervisory Commission (Cosumaf), the central depository, Cima, and the economic agents of CEMAC are the main beneficiaries.

For the AfDB, this project will promote the deepening of the regional financial market through a series of reforms aimed at further developing the public securities market, encouraging the growth of long-term domestic savings. This is to improve stock market listing conditions, stimulate IPOs and corporate bonds, and build the capacity of market institutions and players.