The Regional Stock Exchange (BRVM) of the West African Economic and Monetary Union (UEMOA) presented, this Wednesday, January 18, 2023, during a press conference organized at its headquarters in Abidjan, the 2022 evolution of its activities and its outlook for 2023.
Dr Edoh Kossi Amenounve, Managing Director of the Institution, noted during his speech that despite a particularly difficult macroeconomic context characterized by unprecedented increases in the key rates of most Central Banks to fight against the general inflationary surge across the world, the BRVM rather recorded a positive evolution with all its indicators in the green when the main world stock exchanges were displayed in the red. According to him, as of December 31, 2022, his institution achieved a 7.86% increase in the BRVM 10 index compared to December 31, 2021. He also revealed a 0.46% increase in the BRVM Composite index on the period under review. The IPO of Orange Côte d’Ivoire with a capitalization of 1431.23 billion FCFA, the 21st IPO on the BRVM since 1998, the 10th IPO of a company
Ivorian and the 5th and last IPO on African stock exchanges in 2022.
Added to this is a market capitalization of the equity market increased to 7,560.177 billion FCFA (+24.23%) with 46 listed companies; an admission of 19 bond lines for an amount of 2,469.06 billion FCFA bringing the capitalization of the bond market to 8,926.897 billion FCFA (+23.18%).
According to the managing director, the transaction volume increased by 3.02% with 255.22 million shares traded in 2022 against 247.73 million shares in 2021, for a value of 469.637 billion FCFA.
In addition to these indicators, the BRVM continued in 2022, the implementation of its various strategic actions, in particular the launch of the Code of governance of listed companies (March 15, 2022); the launch of BRVM TV (May 27, 2022) accessible at www.brvmtv.org and on its social media platforms; the organization of the 3rd edition of the BRVM Awards, a celebration of excellence in the WAEMU regional financial market (June 8 and 9, 2022 in Dakar); the signing of a MoU between the BRVM and the Luxembourg Stock Exchange (September 14, 2022), etc.
Several advances were also noted in the conduct of projects to create the Stock Exchange for Agricultural Raw Materials in Côte d’Ivoire and a derivatives market at the BRVM.
Faced with this satisfactory development, Dr Amenounve indicated that the BRVM will strive in this new year 2023, to work more for the expansion of the supply of securities with the admission of new companies including SMEs, the development of the demand for securities, especially by individuals, as well as the continuation of the African Stock Exchanges Interconnection Project (AELP) to give investors access to a wider, deeper and more liquid market.
The BRVM is the Stock Exchange Common to the eight member countries of UEMOA which are Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and TOGO. It was placed on the baptismal font on December 18, 1996.
Cyprian K.