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Cameroon’s dominant stock exchange

Article - October 24, 2011
The Douala Stock Exchange (DSX) was created in December 2001 as the official market for securities in Cameroon
The DSX is a limited company with a majority of 63.7% held by ten private commercial banks, the Credit Foncier of Cameroon and FMO Netherlands. The rest is divided between public interest (23%) and insurance companies (13.3%).It functions as one of the principal financial institutions in Cameroon after the banks. DSX represents the performance of the business sector of the country and the creation of a stock exchange shows that the country has entered a new financial realm.

 To attract underwriters and issuers, the State has initiated a number of incentives: tax reduction on the SI for a period of three years. Issuers may, if necessary, benefit from a rate of up to 10%, or a substantial reduction compared to the ordinary rate (35%).

In its rivalry with other regional exchanges, the Douala Stock Exchange scored valuable points in December 2009, at the close of the first bond issue made by the International Finance Corporation (IFC) in CEMAC. With a sum of 20 billion FCFA (30.5 million), the operation has demonstrated an ability to mobilize much larger savings in Douala than in Libreville, the headquarters of the regional stock exchange of the States of Central Africa. Such capacity to mobilize demonstrates the potential of the Cameroonian market, a true powerhouse of CEMAC. As Pierre Ekoule Mouangue, MD of the DSX says,  "The DSX has a stable and solid team, which makes the best use of the various instruments of the financial system, working with administrators, leaders of big banks and private insurance companies, and public institutional leaders.”