Investing in Chad

Chad's investment system has two main formal channels. The first covers productive direct investment under the Charter of Investments, including agriculture, livestock, fisheries, agro-processing, mining, petroleum exploration, energy, water, solar and wind power, construction, transport, tourism, industrial maintenance and information technology. The second is the regional CEMAC financial market, which serves Central African Economic and Monetary Community member states and includes Chad. The Charter generally allows national and foreign private investment, subject to health, safety, environmental and social-protection rules. It supports local processing of raw materials, exports, domestic supply, lasting employment, skills development, technology transfer, investment outside major centres and the rehabilitation or expansion of existing operations. The Charter does not treat the simple resale of imported goods without transformation as a productive investment sector. ANIE, the national investment and export agency, and its Guichet Unique provide an entry point and investor support. Sector ministries and authorities remain responsible for approvals, permits and requirements under sector-specific rules. Foreign companies may acquire property and intellectual-property rights needed for their operations, obtain concessions and permits, and participate in public procurement subject to the applicable public-procurement rules. Properly recorded profits, sale or liquidation proceeds and savings of foreign employees can be transferred under CEMAC foreign-exchange rules. A direct project normally requires a project description, legal and technical documents, a site, financing evidence, permits, environmental and safety checks, and a clear structure for local suppliers and employment. Agriculture, land, livestock, small businesses and trading arrangements may also be financed informally, but ownership records, contracts, governance, insurance, cash flow and exit rights are often less standardized. The regional securities market is organized through BVMAC, the Central African regional stock exchange. Treasury bills, called BTA, are short-term government securities. Government bonds, called OTA, finance the state over longer periods. Other available instruments include public and private bonds, regional shares, and regulated collective investment products such as OPCVM and FIA funds. SICAV, FCP, OPCI and capital-investment funds are legally provided for, but actual availability, minimum investment, subscription and redemption terms, and fees depend on the approved provider. Chad has participated in the CEMAC government-securities market since 22 October 2014. Individuals and companies, whether resident or non-resident, may access Treasury securities through the authorized market structure. Special Treasury-value dealers, known as SVTs, have exclusive access to primary Treasury auctions and place securities with clients. On the secondary market, SVTs quote buying and selling prices, and transactions depend on an available counterparty. In 2026, BEAC's national direction for Chad published Treasury issues with maturities of about 26 or 52 weeks for BTA and about two to seven years for OTA. Access to BVMAC securities normally begins with a licensed investment-services provider, known as an SDB. The investor opens a securities account and a cash account, reviews the provider's tariff, and submits a purchase or sale order. CRCT provides central custody, administration and settlement. According to the current BVMAC list, CBT BOURSE is the identified SDB based in N'Djamena. COSUMAF regulates the Central African financial market and requires approval for regulated market services. A portfolio manager or investment adviser may provide advice or discretionary management only within the applicable licensed framework. The market is formally available but can be difficult to trade. BVMAC's 10 September 2026 bulletin listed seven share issuers, 31 bond lines and 14 issuers in total, while reporting no daily share volume, bond volume or transactions. The listed Chadian bond ETD01, a 6.5% net 2022–2027 issue with a nominal value of FCFA 5,000 and a theoretical maturity on 30 December 2026, also showed no daily trading. A quoted security therefore does not guarantee a buyer when the investor wants to sell. The current share segment did not establish a Chadian equity listing in the available market information. Regional funds are more developed than a local retail fund market, but the current research does not establish a broad local provider base. COSUMAF's 2025 list contained 25 SDBs, including one in Chad, 11 investment advisers, including one in Chad, 16 portfolio-management companies with none based in Chad, and 39 regional funds. A fund's legal approval does not guarantee local distribution, daily liquidity or a particular return. Chad does not have an evidenced broad local equivalent of online retail brokerage, ETF or index-fund investing, derivatives trading or cryptocurrency investment within this scope. Investment income and transaction costs depend on the instrument and provider. BVMAC states that exchange transfers are not subject to registration or stamp duty, and that net capital gains from securities sales are exempt under its tax information. Interest on government and local bonds is exempt for CEMAC residents according to the same information. Private dividends and interest are subject to withholding of 10% for maturities below five years and 5% for maturities of at least five years. BVMAC does not charge investors a direct transaction commission, but the SDB's order, custody, account and management fees follow its own tariff. Direct projects add registration, permit, due-diligence, land, logistics, tax and compliance costs that vary by project. Risk assessment needs to cover the asset and the surrounding economy. Chad faces sovereign and refinancing risk; the IMF's 2025 assessment classified the country at high risk of debt distress despite a sustainable baseline. Oil contributes about 15% of GDP, 41% of government revenue and 76% of exports, which creates concentration and commodity-price exposure. Agriculture contributes about 40% of GDP and is exposed to droughts, floods and other climate conditions. Conflict, border insecurity, transport constraints, the landlocked geography and a fragile financial sector with undercapitalization and non-performing loans can affect projects and counterparties. About 88% of employment is informal, which can complicate records, contracts and enforcement in smaller investments. A practical investment review should identify the legal owner, register, contract, counterparty, cash flow, permits, insurance, security situation, currency and exit mechanism. A portfolio concentrated in Chad, oil-linked activities or government securities can carry correlated risks. Diversification across maturities, issuers, sectors and, where suitable, other CEMAC investments can reduce concentration, while a cash reserve helps when secondary-market sales are slow. Banking services provide the account and payment infrastructure for investing, but ordinary banking, private debt advice and general cost advice remain separate subjects.