West Africa’s BRVM Stock Exchange hits record high of 20,6 trillion CFA Francs in 2024

The BRVM stock exchange in West Africa reached a record total value of 20.6 trillion CFA francs ($ 32 billion) in 2024, driven by strong investor interest, according to Edoh Kossi Amenounve (the exchange’s General director) on January 16.

This marks a significant increase from 18.3 trillion CFA francs in 2023. The surge in market value reflects a notable rise in investor appetite, which has supported the stock market throughout the year.

Transaction values also saw an upward trend, reaching 462 billion CFA francs in 2024, compared to 396 billion CFA francs in 2023. The exchange’s all-share index, BRVM composite, increased by 28.9%, reaching 276.02 points by the end of the year. This growth highlights the positive momentum within the regional market, which has garnered attention from both domestic and international investors.

A notable development for the exchange in 2024 is the upcoming listing of Banque Internationale pour l’Industrie et le Commerce (BIIC) from Benin, scheduled for April after its initial public offering. Currently, the Abidjan-based exchange has 47 companies listed, including prominent firms such as Senegalese telecom Sonatel, Ivorian telecom Orange, Burkina Faso’s Onatel, and Ivorian bank Societe Generale Cote d’Ivoire.

In addition to the companies listed on the BRVM, several countries and organisations also have bonds listed on the exchange, further strengthening the market’s role as a key financial hub in the region. The exchange’s growing influence underscores its importance in the economic landscape of West Africa.