By Eratus Ndueh
The Central African Stock Exchange (BVMAC) plans on splitting its shares to make financial market participation more accessible to low-income earners in the Central African sub-region. The pronouncement was made by the director general of BVMAC, Louis Banga Ntolo, during the 10th edition of ‘Ring the Bell for Gender Equality,’ an event led by UN Women to promote gender equality and women’s empowerment.
According to the Director General, this reform is mentioned in their plan of action for the year 2022-2026 and it aimed at facilitating the financial inclusion of low-income earners especially for marginalized groups such as women, youths, and operators in the informal sector without them necessary needing a bank account before they trade in the stock exchange market.
To ensure the success of this project, BVMAC plans on working with fintech companies operating in the field of mobile money, a payment method approved by the Bank of Central African States (BEAC), which identifies individuals through a microchip.
‘We will conduct splits similar to those in other stock exchanges, allowing shares listed on the BVMAC to be priced at CFA 500 without altering the rights associated with a security. Thereby facilitating the purchase of assets with an electronic wallet,’ the director general explained.
This ongoing reform at BVMAC will also have a positive impact on Cameroonians as it will increase the rate at which they invest in the stock exchange market.
‘This measure is going to ensure that more people get interested in investing in the stock market. Instead of sending the money to a ‘njangi’ ( common meeting group) each month, you can use the money to buy shares in the Central African Stock Exchange market, and then earn huge at the end of the year. This means that more people are going to be using the formal financial system to the benefit of local businesses who will be able to raise funds to expand their operations,’ Henri Kouam an economist expounded.
According to data from the Bank of Central African States (BEAC), the financial inclusion rate was 32% in the CEMAC zone in 2021. To increase this rate to 60% by 2027, the central bank is focusing on innovation and expanding digital financial services in the sub-region.
Source: Cameroon News Agency
OPUWO: World Wetlands Day was commemorated at Opuwo on Thursday under the theme ‘Wetlands and human wellbeing’, emphasising the critical role of wetlands in human prosperity and a healthy planet.
World Wetlands Day is an annual event held to raise awareness about the importance of wetlands and promote their conservation and sustainable use. It marks the date of the adoption of the Ramsar Convention, an international treaty aimed at conserving and sustainably managing wetlands around the world.
During the event, Minister of Agriculture, Water, and Land Reform Calle Schlettwein spoke of the significance of protecting Namibia’s wetlands, highlighting their diverse ecological functions and their significance as habitats for numerous species.
Schlettwein further emphasised the importance of wetlands in human health, food security, agriculture, and conservation efforts.
‘Maintaining healthy freshwater wetlands means securing water supply. Our rural communities depend on wetlands for food and building materials
such as reeds and timber to construct their houses,’ he added.
The minister also referenced World Water Day, which is celebrated annually to promote the value of freshwater and the sustainable management of freshwater resources.
‘Demand for water in the world and Namibia has been increasing and will continue to do so over the coming decades due to population growth, socio-economic development, and increased food production,’ he noted.
Minister of Environment, Forestry, and Tourism Phamba Shifeta stated at the same event that the world is losing wetlands three times faster than it is losing forests, with more than 80 per cent of wetlands having disappeared since the 1700s.
‘The trend is accelerating even further since the Ramsar Convention to protected wetlands was signed, and since then at least 35 per cent of the wetlands have been lost,’ he said.
Shifeta said human activities and climate change are the primary causes of wetlands degradation and loss, which in turn have a detrimental impact on human liv
es and welfare.
He urged traditional authorities and regional and local government officials to help promote the culture of wetland conservation, stating that concerted efforts at the local level will ensure that Namibia’s wetlands are protected and continue to provide much-needed ecosystem services to both society and the environment.
Wetlands are habitats that hold water, either continuously or seasonally, and the Kunene Region has over 15 wetlands.
Source: Namibia Press Agency