BRVM single-day trading crosses the XOF 1bn mark
Investors in the BRVM stock market demonstrated robust activity on Thursday, with a total transaction volume of 1.079 billion FCFA ($1.8 million). This marks the highest daily volume recorded in nearly a month. The focus of these exchanges centered on stocks from the Orange group, with Sonatel taking the lead by recording transactions worth 537.67 million FCFA, compared to Orange Cl's 327.76 million FCFA.
Sonatel shares concluded the session on a positive note, trading at 16,950 FCFA. In contrast, Orange Cl experienced a significant decline of 3.19%, closing at 10,020 FCFA, primarily due to less impressive financial performance.
This underperformance of the second-largest valuation on the market, coupled with a 7.07% drop in Oragroup's stock price to 2,300 FCFA, led to a 0.99% decline in the market. As a result, the BRVM Composite index now stands at 205.96 points. Following the same trend, the Composite, BRVM 30, and BRVM Prestige indices also registered declines of 1.02% to 103.56 points and 0.65% to 99.54 points, respectively.
Key Takeaways
The West African regional stock exchange, Bourse Régionale des Valeurs Mobilières SA (BRVM), has been one of Africa’s most active this year, drawing significant investor attention. It recently achieved a historic milestone by reaching XOF 8 trillion (~$13 billion) in equity market capitalization. BRVM serves all eight French-speaking Member States in the West African Economic and Monetary Union (WAEMU), boasting listings from seven countries, including Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo, with only Guinea-Bissau absent from representation. Established in 1997 and based in Abidjan, BRVM is one of two regional stock exchanges in Africa, the other being BVMAC, serving six member states in the Economic and Monetary Community of Central Africa (CEMAC): Cameroon, Gabon, Chad, Central African Republic, Republic of the Congo, and Equatorial Guinea. Both markets operate with the CFA Franc, the common currency for all 14 francophone African member states, which is pegged to the Euro, providing foreign exchange stability for investors. These exchanges are entirely digital, showcasing their success as technological pioneers on the continent.
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