Some financial market actors may not be aware of this but it’s true. The company “Together E-Investments” based in Yaoundé, is not an investment service provider (ISP) in Cameroon. At least, not yet. Indeed, last August 6, the financial markets commission (CMF) did not grant the company approval for various reasons including a “mismatch between the specificity of the activities for which accreditation is sought and the human and material capacities to do so”.
CMF also raised the “inadequate operational capacities, in terms of specialized personnel, premises, IT equipment and transactional monitoring; insufficient professional references of key managers to ensure the conduct and development of an entity providing investment services on the Cameroonian financial market”.
Finally, Together E-Investments was rejected for “uncertainty about the very purpose of the company and the governance envisaged for the proper functioning and protection of public savings”. However, the CMF states that the company is allowed to submit a new request in accordance with the provisions of Article 70 of the General Regulation of the Financial Markets Commission.