Edoh Kossi Amenounve
Chief Executive Officer
Bourse Régionale des
Valeurs Mobilières (BRVM)

1. Can you present the BRVM and give us an initial assessment of its activity?

The BRVM is the unique stock exchange for eight countries in West Africa: Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. The BRVM started up its operations on 16 September 1998. Its creation is the result of a long process since the ratification of the Treaty establishing the West African Monetary Union (WAMU) in 14 November 1973. 

After 15 years of activities, the BRVM has 37 listed companies and a stock market capitalization of the shares of 4,973,000,000 CFA francs, an increase of 388 % of its size. As for the bond market, it has grown from a market capitalisation of 83 to 957 Billion CFA francs, an increase of 1053%.

Indexes BRVM 10 and BRVM Composite totaled 224 and 205 points compared to the base 100 at the beginning in 1998. The indexes show the BRVM positive performance since its creation.

2. What are the projects you will implement to strengthen the role of BRVM as an instrument for financing West African economies?

Companies in the WAEMU must seek long-term financing to create value and be competitive their sector. The BRVM is a solution for them.

It is a challenge for the BRVM because the enterprises dynamism has an impact on economic growth. This is the reason why we adopted strategic directions for the coming years: facilitating access to financing for businesses in the market; being more accessible to investors and increasing its regional and international visibility. Manning to a continuous auction system on 16 September 2013 will contribute to the stock exchange liquidity and attractiveness. In addition, we are working for the opening of the SME / SMI compartment in 2014, the development of savings securities and so on.

©OECD Observer No 296, Q3 2013

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