ABIDJAN (Reuters) – The total value of West Africa’s regional BRVM stock exchange rose to 20.6 trillion CFA francs ($32 billion) in 2024, a record high, boosted by strong interest from investors, its general director told reporters on Thursday.
“Investor appetite supported the stock market in 2024,” Edoh Kossi Amenounve said, noting the total was up from 18.3 billion CFA francs in 2023.
The value of transactions reached 462 billion CFA francs in 2024, up from 396 billion CFA francs the previous year, while the all-share index BRVM composite rose by 28.9% year-over-year to 276.02 points.
The Beninese bank Banque Internationale pour l’Industrie et le Commerce is slated to be listed on the exchange in April following its initial public offering, Amenounve said.
The Abidjan-based exchange currently has 47 companies listed, including Senegalese telecom Sonatel, Ivorian telecom Orange, Burkina Faso’s Onatel and the Ivorian lender Societe Generale Cote d’Ivoire.
Several countries and companies also have bonds listed on the exchange.
(Reporting by Loucoumane Coulibaly; Editing by Portia Crowe and David Evans)
