Stock markets: BVMAC finally opens up to SMEs and start-ups

A historic turning point for the Central African Stock Exchange. As of April 24th, 2025, the stock exchange market is easing its entry requirements to enable SMEs and start-ups to raise funds legally and transparently.

Gone are the high barriers to entry: the minimum capitalization requirement for listing has been reduced from 10 billion to just 300 million FCFA. The sales requirement falls to 250 million, the percentage of capital to be floated to 15%, and the annual profit requirement is abolished.

Another major advance: start-ups in the process of being created can now raise funds, provided they present a solid business plan and three-year financial forecasts. A first in the region.

On the instruments side, SMEs can now issue not only shares, but also bonds, hybrid securities or innovative solutions such as crowdfunding – a real breath of fresh air for start-ups.

Even bond requirements have been relaxed: 50 million FCFA over 2 years is now sufficient, compared with 250 million over 3 years previously.

The aim is clear: to make SME financing more accessible, and to stimulate a stock market that has long remained elitist. All that remains is for these companies to play by the rules: financial transparency, certified reports and good governance.

source: EcoMatin