The launch of the first edition of the International Investor Week was held on October 2nd, 2017 at the headquarters of the Inter-CEO Group of Cameroon, organized by the Cameroon Financial Markets Commission. Jérôme MINLEND, CEO of CAC International, participated as a panelist expert on Cameroonian stock market taxation.
This year, the theme of the International Investor Week was “Protecting investors for a dynamic financial market”.
The first day was inaugurated by Mr. ELUNG Paul CHE, Minister Delegate to the Minister of Finance. In his introductory remarks, Mr. ELUNG stressed the need to develop the securities market in Cameroon, which are essential tools for financing the economy. Jean Claude NGBWA, President of the Cameroon Financial Markets Commission made a statement of the Cameroon stock market and noted that, despite a legal and fiscal framework, the Douala Stock Exchange (DSX) is slow to emerge. Thus, in order to revitalize this sector, it has defined as target investors, major players in the functioning of the primary market and secondary stock market.
Different themes have been discussed: What investment products for which investors – Corporate governance and investor protection – Investors’ rights and obligations – Tax benefits on investment in transferable securities. These themes have been the subject of enlightened lectures and debates through various panels composed of University Professors, Magistrates, Lawyers, Financial and Accounting Experts.
As a speaker on “Tax benefits on investment in transferable securities”, Jérôme MINLEND made a statement about Cameroonian stock market taxation by presenting its advantages and limitations. In a comparative approach, he highlighted the similarities and differences between the Cameroonian tax regime and the one applicable to the Securities Exchange of Central Africa (BVMAC) before comparing both to the taxation applicable to the Regional Exchange of Securities West Africa. It is noted that although Cameroon offers tax incentives in the stock market sector; the country still faces competition from the Regional Stock Exchange whose tax incentives are more focused on capital income.
In conclusion, the CEO of CAC stressed that the lack of dynamism of the securities market in Cameroon and the DSX is not only the result of the tax variable, but other factors are to be considered such as poor communication and a problem of the transparency of information which constitute a burden on the actual take-off of the Cameroonian stock exchange.
Please find below the support of Jérôme MINLEND’s presentation as well as the images of the event.