In the discreet but ruthless world of collective management in Central Africa, the year 2024 confirmed what insiders already knew: the heavyweights dictate the game and the competition often settles for playing second fiddle. As of December 31, 2024, the snapshot of the Collective Investment Schemes (CIS) market in the CEMAC region consecrates, unsurprisingly, Harvest Asset Management as the absolute master of the game, with a total asset under management flirting with 346 billion CFA francs (approximately 574 million dollars), representing 36.08% of market share.
Behind, Elite Capital Asset Management SA honors its position with 181.78 billion CFA francs in assets (301 million dollars), capturing 18.95% of the market. But the huge gap with the leader leaves little room for the illusion of a short-term reversal. ASCA Asset Management, third in the ranking, displays 100.98 billion CFA francs (167 million dollars) and a respectable 10.53% market share, while consolidating a portfolio with more specialized contours.
The second half of the top 5 is occupied by Corridor Asset Management and Africa Bright Asset Management, neck and neck around 69.6 billion CFA francs each (115 million dollars) and a market share of around 7.26%. A medium-sized duel, but indicative of the growing polarization between giants and intermediate players.
However, the raw numbers mask a strategic reality: Harvest’s dominance is based on a dual dynamic – a robust mattress of domestic monetary assets and a calibrated CIS exposure to capture both institutional clients and international flows seeking returns uncorrelated to developed markets. In this perspective, the 244.54 billion CFA francs of CIS managed by Harvest represent a true regional “proxy” for investors looking to diversify outside the euro-dollar zone.
The market as a whole, still in its infancy on the scale of the major African financial centers, remains a playground where the concentration of management power, measured here by the cumulative share of the top five (nearly 80%), imposes its codes. A tacit barrier to entry for aspiring managers, but also a guarantee of stability for institutional investors who favor balance sheet depth and operational continuity.
In summary, 2024 will have reminded us that, in the CEMAC region, asset management is not just a matter of numbers: it is a question of stature, reputation, and the ability to position oneself as a credible counterweight to the vagaries of a regional market still in search of maturity.
