Purpose Capital est une société de bourse agréée, basée à Yaoundé, qui accompagne investisseurs, institutions et émetteurs sur les marchés financiers de la zone CEMAC. Nous associons expertise des marchés de capitaux, exigence réglementaire et connaissance du terrain.
Purpose Capital is a licensed brokerage firm headquartered in Yaoundé, serving investors, institutions and issuers across the CEMAC region. We combine capital-markets expertise, regulatory discipline and local knowledge.
Purpose Capital is a licensed brokerage firm, headquartered in Yaoundé and serving clients across all six CEMAC countries. We connect our clients to regional financial markets with rigour, transparency and a strong commitment to local economic development.
Connecting savings to needs: linking investors, issuers and markets across the six CEMAC countries, through regulated broking.
A region that funds itself: a CEMAC market that is deep and accessible, where savings find productive uses locally.
“Giving capital its purpose.”
Rue Joseph Essono Balla, Elig-Essono
opposite the Mahima supermarket
Yaoundé, Cameroon
Nous intervenons des deux côtés du marché : pour aider les investisseurs à placer leur capital et les émetteurs à accéder au financement. Six lignes de services couvrent l'ensemble du cycle d'investissement.
We work across both sides of the market: helping investors deploy capital and issuers access it. Six service lines cover the full investment cycle.
Accès efficient, sécurisé et transparent aux marchés financiers régionaux, actions, obligations, bons du Trésor. Exécution sur les instruments accessibles sur le marché régional, avec reporting traçable et ségrégation des actifs clients.
Efficient, secure and transparent access to regional financial markets, equities, bonds, treasury bills. Execution on the instruments accessible on the regional market, with traceable reporting and segregation of client assets.
Solutions d'investissement pour la performance institutionnelle et la conformité prudentielle. Nous vous accompagnons dans la structuration de portefeuilles conformes à vos contraintes prudentielles, y compris celles du code CIMA.
Investment solutions for institutional performance and prudential compliance. We assist you in structuring portfolios that meet your prudential constraints, including those of the CIMA code.
Levée de capitaux, émission de titres et conseil sur opérations stratégiques : appels publics à l'épargne, emprunts obligataires, introductions en bourse, évaluation et opérations d'entreprise sélectionnées.
Capital raising, securities issuance and advisory on strategic transactions: public offerings, bond issues, listings, valuation and selected corporate transactions.
Solutions sur mesure pour la croissance, la protection et la transmission de votre patrimoine. Nous vous accompagnons dans l'accès aux mandats de gestion et aux placements collectifs (FCP, SICAV), à l'allocation stratégique et aux plans d'épargne long terme.
Tailored solutions for the growth, protection and transmission of your wealth. We assist you in accessing management mandates and collective investment schemes (FCP, SICAV), strategic allocation and long-term savings plans.
Tenue de vos comptes-titres, suivi transparent et traitement post-marché : opérations sur titres, règlement-livraison et reporting traçable. Vos titres sont inscrits à votre nom auprès de la CRCT, dépositaire central de la zone.
Securities account administration, transparent tracking and efficient post-trade processing: corporate actions, settlement and traceable reporting. Your securities are registered in your name with the CRCT, the central securities depository for the zone.
Analyses financières fondamentales, études sectorielles, notes de marché hebdomadaires et surveillance continue des risques pour soutenir vos décisions d'investissement stratégiques.
Fundamental financial analysis, sector studies, weekly market briefs and continuous risk monitoring to support your strategic investment decisions.
La zone CEMAC constitue un marché de capitaux encore peu profond, où le financement passe largement par le crédit bancaire. Elle offre à ce titre un potentiel de développement structurel important, que Purpose Capital est positionnée pour accompagner.
The CEMAC zone is a capital market that remains shallow, where financing largely goes through bank credit. It therefore offers significant structural development potential, which Purpose Capital is positioned to support.
Our approach follows five core steps. Here is what happens between your decision and the position registered in your name.
This path describes how we work. The extent of our involvement is assessed transaction by transaction, according to the nature of the instrument and the applicable regulatory framework.
Seven companies are listed on the Central African Securities Exchange as at the date of publication of this brochure. You open a securities account, place your order through a licensed brokerage, it is executed in session, then settled by delivery versus payment.
The securities are registered in your name with the regional central securities depository, with Purpose Capital acting as your account keeper.
Purpose Capital opens your securities account, routes your order to the session and sends you the contract note.You subscribe FCFA 46,800,000, fees included. At maturity, 52 weeks later, the Treasury pays you FCFA 50,000,000. The difference is the discount, fixed on the day you subscribe.
One payment in, one payment out, one date. No coupon to track.
Purpose Capital passes on the auction calendar, submits your bid and explains the allocation obtained.You subscribe FCFA 10,000,000 of a five-year bond at 7.00%, issued by a state, an institution or a company. You receive FCFA 700,000 each year, with principal repaid in one payment at maturity.
Purpose Capital provides the information memorandum, collects your subscription form and follows settlement through to registration.Historical illustrations based on market rates published in 2024 (regional averages on government securities in the zone). Current conditions differ. They constitute neither an offer, nor personalised investment advice, nor any guarantee of return. Any investment in financial instruments carries a risk of capital loss. Past performance is no guide to future performance. The ability to sell a security before maturity depends on market conditions and is not guaranteed. Applicable fees and taxation vary with your situation. Every transaction is preceded by current information. Our services are provided within the scope of our regulatory authorisation and, where applicable, in coordination with duly authorised partners.
An investor subscribes 10,000 bonds with a face value of FCFA 10,000 each, that is FCFA 100,000,000 of nominal, at an issue price of 97%. Only FCFA 97,000,000 is paid out, but the full nominal is repaid at maturity.
| SubscriptionT0 | Year 1 | Year 2 | Maturityend of year 3 | |
|---|---|---|---|---|
| Issue price97% of 100,000,000 | (97,000,000) | |||
| Intermediation fees0.10% excl. tax + 19.25% VAT | (119,250) | |||
| Annual coupon6.50% of nominal | 6,500,000 | 6,500,000 | 6,500,000 | |
| Repayment of nominalat par | 100,000,000 | |||
| Net cash flow | (97,119,250) | 6,500,000 | 6,500,000 | 106,500,000 |
The return on a bond subscribed at a discount comes from two distinct sources, different in nature. The coupon pays for the loan made to the issuer: it is known in advance, paid periodically, and calculated on the face value whatever price was paid. The redemption premium pays for the purchase price: the security is bought below par and repaid at par, the difference falling due in one payment at maturity.
The coupon rate, 6.50%, is what the issuer undertakes to pay each year on the face value. It depends neither on the price at which you buy the security nor on the fees you bear.
What you actually receive depends on both. At full price, once fees are taken into account, that 6.50% comes to 6.46%. At 97%, the entry price falls while the coupon and the repayment stay the same: the yield to maturity on the very same security then comes to 7.61%, fees included, assuming it is held to term.
It is this second figure, the actuarial yield, that you should look at when comparing two securities.
A company issues FCFA 10bn over seven years, with one year of grace then six equal repayments, the bond listed on BVMAC.
The amortisation profile shapes the issuer's cash flow as much as the rate does: a grace period eases the early instalments, a progressive amortisation spreads the burden.
Purpose Capital supports you in preparing the file and in the dialogue with the advisers to the operation.A listing means setting a free float, a valuation and a calendar, then accepting what changes afterwards: disclosure obligations, corporate actions, and a share price that exists whether you like it or not.
Purpose Capital guides you through the listing steps and the parties involved, ahead of the decision.A treasurer holds FCFA 900m in idle balances, placing 400m at 13 weeks, 300m at 26 weeks and 200m at 52 weeks, keeping more on the nearer maturities.
Liquidity becomes available progressively, with maturities at approximately 13, 26 and 52 weeks, without selling anything early. Each maturity is reinvested at the rate of the day.
Purpose Capital builds the maturity schedule with you and submits each bid on its date.Historical illustrations based on market rates published in 2024 (regional averages on government securities in the zone). Current conditions differ. They constitute neither an offer, nor personalised investment advice, nor any guarantee of return. Any investment in financial instruments carries a risk of capital loss. Past performance is no guide to future performance. The ability to sell a security before maturity depends on market conditions and is not guaranteed. Applicable fees and taxation vary with your situation. Every transaction is preceded by current information. Our services are provided within the scope of our regulatory authorisation and, where applicable, in coordination with duly authorised partners.
Not every transaction goes through an auction. A security already issued can be traded directly between two investors, at a price they agree between themselves. This is where part of a portfolio's effective liquidity is determined.
A treasurer needs cash before the securities mature. Rather than wait, they sell the line to another investor, at a price reflecting the rates of the day and the remaining term.
The price is not the face value. If rates have risen since subscription, the sale happens at a discount; if they have fallen, at a premium.
Purpose Capital looks for a counterparty, produces an indicative valuation and arranges settlement.An insurance company needs to shorten its portfolio duration or meet a prudential ratio. It replaces one long-dated position with several shorter-dated positions, with an institutional counterparty.
The transaction seeks a structure, not a yield. The advice bears on what the swap does to the overall profile, not on the price of any single line.
Purpose Capital assesses what the replacement does to your overall profile before any execution.The price of an over-the-counter transaction results from a negotiation between two parties. There is no posted price: the examples above describe a mechanism, not a scale.
Pour toute demande d'information sur nos services, un rendez-vous ou une proposition de partenariat, notre équipe est à votre entière disposition.
For any enquiry about our services, a meeting request or a partnership proposal, our team is fully at your disposal.
Purpose Capital, Donner du sens au capital, au service du développement de l'Afrique Centrale.
Purpose Capital, Giving capital its purpose, in service of Central Africa's development.