Posted by: Armel | March 24, 2008

Douala Stock Exchange (DSX) WTF?

                                   dsx.jpg 

ONLY ONE SHARE LISTED AFTER SO MANY YEARS ??

I know this is a fairly new venture for most African countries not used to modern financing, but this is awful! I had to mention something about the Douala Stock Exchange(DSX). It’s been years since the creation of this baby and we’ve yet to see anything meaningful coming out of there! What are they doing there for it to be ONLY ONE COMPANY’s SHARE ACTIVELY TRADED ? Don’t believe me? Read their latest official release below…

“..DOUALA STOCK EXCHANGE closed its trading session of Wednesday, 19th march 2008 with the same trend as the previous session. The price of SEMC shares is FCFA 65 901. 10 shares were traded. The trade’s value was at Fcfa 659 610. The market status was unperfectly balanced. The level of market capitalization was at FCFA 3 034 206 000 . 2 PSI out of the 8 authorised by the Financial markets Commission participated in the trading session.
We would like to thank all the participants in the financial market of Cameroon and we take this opportunity to inform you that the next trading session will take place on Wednesday, the 26th of march 2008..”
    Read for yourself here…

There is really nothing anyone can add to that statement. After all the noise made around its great potential for local investments, the DSX has yet to make any move in the financial sector in Cameroon. Given that they are not involved in neither floating Govt assets nor refinancing local debt trough securities, I will go further and say that, as of now, the DSX is ABSOLUTELY IRRELEVANT !!

AN

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Responses

  1. Nice to meet you.
    I had a look at blog.

  2. I want to share your view about the DSX.
    Actually as a final year student of ENS Bambili, I am bent on writing a project that will reveal most of the loop holes of the DSX. Hope you will read from it

  3. Steven,
    It would absolutely be a pleasure for me to read your project once it’s complete. Let me know when it’s ready via e-mail. armelopost@gmail.com

  4. The Douala Stock Exchange will continue to perform poorly until potential investors feel secured, which is triggered by accountability and transparency. Educating private firms should be a strategic move to be considered by the DSX board.

  5. Frederick,
    that’s one of the critical issue: no one in the financial sector can tell you exactly what the DSX does on a daily basis. The Public relations campaign was non-existent from the begining. Virtually none of the locals firms is even aware of the potential capital they could raise on the open market. The whole thing is just bizarre ..

  6. This Country !
    I’m wondering about something: when those guys on the DSX payroll get to the office everyday, what is their actual schedule ? Seriously! Do they even have something planned? What is the background of the Douala Stock Exchange manager ? No transparency whatsoever!
    All the effort people are willing to put forward to help their country move forward become irrelevant when someone reads about stuff like this. It really hurts me

  7. @ C Stephen,
    I won’t go so far and say that the employees of the DSX are just wondering around all day doing nothing, but I feel your pain !

  8. hey. am a MBA student in Ghana. and by the experience I am getting here, our companies home dont know the importance of a stock exchange. somebody has to change that and I think the somebody is us. armel need to get in touch with u.

    • Dicap, I know what you mean. You can gmail me (armelopost)


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