Yaoundé, Cameroon — In a pivotal move for Cameroon’s financial sector, the BGFI Holding Corporation (BHC) has successfully secured a regulatory waiver from the Central Africa Stock Exchange (BVMAC), allowing the company to proceed with its initial public offering (IPO) despite falling short of the required 10% free-float target.
The decision, announced on April 9, 2026, comes as a significant development in the region’s financial landscape. 3 billion ($70 million), amounting to 36% of the target amount. Despite the shortfall, the BVMAC admissions committee granted the waiver, viewing the IPO as a “historic “event that could potentially deter future issuers if blocked.
Henri — Claude Oyima, CEO and founder of BGFIBank, which is part of the BHC, also chairs the BVMAC, sparking concerns about a potential conflict of interest.
The waiver was contingent upon BHC’s commitment to return to the market within 18 months to raise additional funds and achieve the 10% free-float target.
The IPO drew 7,601 subscribers from 24 countries, a surge that increased the number of identified investors in the CEMAC region by 80%.
The BVMAC admissions committee highlighted the IPO’s role in democratizing equity investment in the CEMAC region. Critics, however, have voiced concerns about the conflict of interest involving Oyima’s dual role.
The BGFI 2030 strategic plan, which aims to transform the institution into a more efficient, agile, and geographically diverse financial powerhouse, is gaining momentum with strong engagement from investors and internal stakeholders.
As BGFI moves forward with its IPO, the region’s financial community will be closely monitoring the company’s efforts to fulfill its commitment to reach the 10% free-float target and the potential impact this decision may have on future listings at the BVMAC.
*Additional reporting by ImNews | Sources consulted: 5*
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By This original article was produced by the ImNews editorial team
Source: AfricaIntelligence
