Bank of Africa enters Burkina Faso's stock market

Jan 10, 2011

The Burkinabe branch of Bank of Africa (BOA) has just proceeded to the first listing of its shares at the BRVM, a regional stock exchange serving eight West African countries.

The listing was made on December 30th and saw the quoted prices go from 23,000 FCFA (€35) to 30,000 FCFA (€45.70).

"This listing is in line with the bank policy of transparency and good governance and presents a great interest to share holders," BOA Chief Executive Paul Derreumaux told Le Pays.

The introduction was made following the launch of a public offering of 100,000 shares on October 26th, for a total of 2,261 billion FCFA (€3.4 million).

BOA Burkina Faso is now the second Burkinabe company listed at the BRVM, after Onatel entered in 2009.

Created in Mali in 1982, the BOA Group is present in 12 countries through a network of commercial banks and financial institutions, all entirely dedicated to Africa.