Cosumaf gets a new headquarters in Libreville

Central African Financial Market Supervisory Commission (Cosumaf) has just set up a new headquarters in the center of Libreville. Upgraded to required standards, the building that once housed the BVMAC (Central African Stock Exchange) will enable the sub-regional institution to strengthen its operational capacities in a favorable environment and in better working conditions.

The Minister of Public Works, Equipment and infrastructure, Toussaint Kouma Emane proceeded this Thursday 30 March in Libreville, at the inauguration of the new headquarters of the Central African Financial Market Supervisory Commission (Cosumaf), in the presence of several high personalities of the sub-region. This building, completely rehabilitated by a local company, is located in the city center at the former headquarters of the BVMAC.

According to the member of the government, the conference of CEMAC Heads of State held in N'Djamena in October 2021 decided on the unification of the financial markets of the sub-region. Following this decision, Central African Stock Exchange (BVMAC) was relocated to the city of Douala, in Cameroon. «It is within this framework that thanks to the very high instructions of the President of the Republic, Ali So You're Dead, Cosumaf now has a new headquarters which is the former BVMAC building», said Toussaint Kouma Emane, representing the Minister of Economy and Recovery prevented.

From 2005, Cosumaf, which benefits from a headquarters agreement signed with the Gabonese State, was installed in rental premises in Libreville. «Integrating the premises in full ownership today is an opportunity to improve working conditions and operational capacities in a framework with more work and reception space», said Ambassador Nagoum Yamassoum, President of Cosumaf. According to him, this optimization of the intervention and work potential of the institution is not insignificant, insofar as it fulfills the role of depositary of public service concessions in Central Africa.

Cosumaf is a community body created within the framework of the Central African Monetary Union (UMAC). It is the supervisory authority of the Central African financial market. This market concerns all products and transactions for the placement of non-banking financial services offered to the public or made available to economic operators and calling for public savings., as well as all public or private persons in charge of the proper execution of said transactions. Cosumaf thus ensures the protection of savings invested in transferable securities and other financial instruments.. It also oversees investor information and the proper functioning of the market..