Stock Exchange
The Douala Stock Exchange (DSX) is the Stock Exchange of Cameroon. The DSX is the sole agent licensed to trade in and to sell to the public, stock, shares, bonds and other investment products.
Based in Douala, the economic capital of Cameroon, port city and main point of entry to the CEMAC region, the Douala Stock Exchange is both the standard bearer of the national economic and financial community, and the result of the determination of the Cameroonian Government. The Douala Stock Exchange is a public limited company with a Board of Directors and capital of 1.8 billion francs CFA, of which 63.7% of the shares are held by private commercial banks, Credit Foncier of Cameroon and the Dutch bank FMO, 23% by public interests, and 13.3% by private insurance companies.
- Market Activities
Latest Trading Session: 16/04/2014
Douala Stock Exchange ended its trading session on 16th April 2014.
The SEMC and SAFACAM SOCAPALM values ??remained stable at CFA 129,998 to CFA 137,999 and CFA 42,998.
In terms of appearance, no transaction has been recorded.
Market capitalization stood at CFA F 134 674 660 474.
For the bond market "MOABI IFC 4.25% from 2009 to 2014", "ECMR 5.6% net 2010-2015", "BDEAC 5.5% net 2010-2017", "ECMR 5.9% net 2013-2018" and "State of Chad 6 % 2013-2018 "remained stable at 100.00%, 99.99%, 99.99%, 100.00% and 100.00% of accrued interest.
No title has been the subject of transactions.
The bond market capitalization stood at CFA 255 275 210 000.
- Unlisted Companies – Introduction
What are negotiable government stocks and securities?
Negotiable government stocks and securities are loan notes or debt instruments held against, or guaranteed by, the State. Negotiable government stocks and securities are issued by the State of Cameroon.
- ‘Coupon zero' Treasury Bonds issued in favour of the States creditors. They are long-term securities over a period of 2 and 12 years which are remunerated at a capitalized interest rate of 3%, which is repaid along with the capital at the maturity date;
- Ordinary treasury bonds are defined as loan notes or debt instruments issued by the State to credit establishments and insurance companies: they have duration of 12 years and are repaid at a rate of interest which cannot be above the market rate. These interest payments are paid quarterly;
- Treasury Bonds, which are issued to economic agents.
The role of the Douala Stock Exchange in the negotiation of government stocks and securities
Douala Stock Exchange is responsible for the organization and monitoring of the secondary market in treasury bonds, which are quoted in the unlisted securities division. In this capacity, the DSX assures the prerogatives of the following:
- Organisation of the market: characterised by the centralisation of negotiation of these securities in their « Over The Counter » division.
The scope of these arrangements concerns every person wishing to carry out a negotiation of Zero Coupon Treasury Bonds at the Douala Stock Exchange, whether sale or purchase, both on his or her own account or on behalf of a third party (mandate permitting).
- The negotiation of transactions: The negotiating procedures used is a system known as A ‘Dutch auction'. Adjudications of zero coupon treasury bonds are carried out by means of a call for bids published in the official Bulletin of the DSX and displayed within its premises.
Each adjudication puts into competition all those who wish to purchase or sell bonds and who make an offer which conforms to laws and regulations in force. Potential buyers or sellers must confirm their transaction at the DOUALA STOCK EXCHANGE.
Each bidder whose offer is accepted will buy or sell the securities at the bid price (expressed as a nominal percentage of the face value of the securities) At the date of adjudication, the orders will be awarded at the price proposed by the adjudicators: the most attractive bids will be those whose price is highest, at nominal percentage value.
In the interests of transparency, the results of the adjudication will be published in the official Bulletin of the Douala Stock Exchange. The following information will be communicated: the quantity bought or sold the transfer price, and the names of the persons or organizations buying or selling.
The Douala Stock Exchange shall monitor all transactions carried out by authorized dealers, whether they be acting on their own account or on behalf of others.
Market Access
- Import regulations and customs duties
Regulations: There are three categories of imported products: the free products which do not incur any restriction, the products requiring a technical visa or a certificate of conformity from a competent Ministry (Health, Security....) and the products which are prohibited in the entire territory of Cameroon.
However, every import must be controlled before its loading. This control relates to quality, quantity and price...
Customs duties: A reform has been carried out in order to facilitate inter-zone export and import and to create a custom barrier which is harmonised for the entire UDEAC zone.
For that purpose, there is CET (Common External Tariff) which has established 5 rates (5%, 10%, 20% and 30% according to the nature of the goods but not depending on the origin of the goods), the GPT (General Preferential Tariff) which is related to the inter-zone export and import a temporary additional tax (tax applied for a period of 3 to 6 years) which aims at protecting certain local sectors of the zone, excise tax (at the rate of 25%) and TCA (a tax on the business turnover, which is like VAT). However, special tax systems can also be applied (for instance: exemptions, lowering tax rate....)
- Distribution
- The Business to Consumer (B to C) market
- The Business to Business (B to B) market
- Transportation of goods
By road: The Road transport network extends over 50,000 km.
By rail: The railway transport network extends over a distance of 1,361 km of railway lines. There are two principal railway lines: Douala - Nkongsamba and Douala - Yaounde (245 km separating these two cities).
By sea: The Port of Douala is the main port of Cameroon (40 foreign stalls ensure the connection with other ports of the world).
By air: The three international airports are Douala, Yaounde and Garoua.
- Standards
The South African Bureau of Standards (SABS) is the institution responsible for developing the activities of standardisation and certification. It works in collaboration with international organisations such as ISO and IEC. It is strongly advised to contact SABS to ensure that the technical obligations required to market a product in South Africa are fulfilled.
- Patents and brands
Cameroon has signed an agreement at the time of the establishment of the World Organisation of Intellectual Property (WIPO)
