(Business in Cameroon) - Commercial Bank-Cameroon (CBC) informs that it recently appointed Cameroonian Bertrand Tognia as the new managing director of the brokerage firm CBC Bourse SA established in January 2020.
The new managing director was appointed after the decision N02020-07 from COSUMAF (financial market regular in the CEMAC region) and the approval, by CBC’s administrative board, of the resignation of CBC Bourse SA’s former managing director Jean Élise Emmanuel Gouater, who was previously deputy MD of CBC.
In the Central African brokerage market, CBC Bourse SA will compete with Upeline Securities Central Africa (Usca), Afriland Bourse & Investiment and Société Générale Securities Services (SGSS).
Bicec and parent company BCP establish subsidiary dedicated to securities operations in Central Africa
Named Upeline Securities Central Africa (Usca), the new entity
intends to position itself on the subregional financial market as a key actor in stockmarket intermediation, financial engineering, and safekeeping, explained Kamal Mokdad, CEO of BCP.
Let’s note that the newly created entity has already been retained by the Development Bank of Central African States (BDEAC) to co-structure and place a XAF100 billion bond issuance operation via public offering.
As a brokerage firm in this market segment, BCP group will compete with Afriland Bourse & Investissement. Created by the Cameroonian group Afriland, the latter is a financial asset management, collective securities investment, stock exchange intermediation, and financial engineering company.