Cameroon is a country with a population of over 30 million people and a business environment that has evolved to meet the modern era of FINTECH. Many international companies trade within the country. One of the most prominent activities within the domain of FINTECH is the provision of digital asset services.
The central African financial market supervisory commission, popularly known by its French acronym COSUMAF (Commission de Surveillance du Marché Financier en Afrique centrale), is the supranational financial market regulatory body in the CEMAC region, which includes Cameroon.
In order to provide digital asset services in Cameroon, a license enabling the provider to engage in such activities must be issued by this regulatory agency. In this vein, COSUMAF has released guidelines that outline the prerequisites for submitting an application to be granted this license.
The first prerequisite for filing is that the entity filing must be a public limited company with a head office located in one of the states that make up CEMAC, and a share capital of 300,000,000 Fcfa (three hundred million francs.)
It is shall be for your best interest to seek the services of an expert in this domain, in order to ensure that this activity results in a successful course and conclusion.
We at CAMA Law Firm shall put at your disposal a team of competent and knowledgeable attorneys to serve you diligently, effectively and efficiently.
