Douala Convention calls for wider use of capital markets to finance CEMAC economies ⁰

The first Diamond Capital Convention ended in Douala on September 25 with financial market operators calling for stronger financial education, more investment products, and greater use of capital markets to finance businesses and economies across Central Africa. Organized by Almasi Capital & Advisory from September 23 to 25, the three-day event brought together nearly 3,000 participants, according to the organizers. Discussions focused on financial education, legal and operational security in financial markets, and ways to channel more savings into productive investment.

The convention comes as the Central African financial market is expanding but continues to have a limited number of listed companies. At the end of 2025, the Central African Stock Exchange (BVMAC) had six listed companies and an equity market capitalization of CFAF 477.75 billion, according to data cited in a CEMAC report published by Cameroon’s Ministry of Economy. Free-float capitalization stood at CFAF 69.57 billion.

The market changed significantly in May 2026, when BGFI Holding Corporation became the seventh company listed on the Douala-based exchange. Its entry pushed BVMAC’s equity market capitalization from about CFAF 479 billion to CFAF 1.71 trillion, according to the exchange.

Financial education at center of market expansion

Against this backdrop, the Diamond Capital Convention sought to explain how the financial market works and expose participants to investment and financing options beyond traditional channels. Ingrid Obouh Fegue, Managing Director of Almasi Capital & Advisory and promoter of the convention, said attendance at the inaugural event showed strong public interest in the financial market. She added that the challenge now is to respond to that demand with more accessible information.

According to the organizers, financial education should begin earlier, from primary school through university, to build a broader pool of potential investors. Other proposals included improving transparency among companies, developing more suitable investment instruments, and strengthening the role of market intermediaries.

The convention also highlighted the need to diversify financing sources. Participants were told that bank credit alone cannot meet all financing needs, leaving room for bonds, investment funds, collective investment schemes, guarantees, securitization, and structured finance. Cameroon has increasingly used capital markets for public financing. The country raised CFAF 8.65 trillion from capital markets between 2010 and early 2025, including CFAF 1.2 trillion through BVMAC, according to Treasury figures reported by Business in Cameroon.

For participants, however, expanding the market also requires a stronger understanding of how financial products work. Joël Ekamby, who attended the convention, said the sessions provided practical knowledge on investment and asset management.

“Financial education is very important, especially for us in Africa. During the convention, I was able to gain knowledge, particularly about asset management, which is not yet firmly rooted in our habits,” Ekamby said.

BVMAC has also moved to expand the pool of potential issuers. In February 2026, the exchange launched BVMAC ESPro, an incubation program designed to prepare large companies and SMEs to access equity and bond financing. The exchange has set a target of reaching 100,000 securities accounts by the end of 2026.

Source: Business in Cameroon