The BRVM expects 12 new listings by 2021
Three of these new introductions are planned for this year.Twelve new companies will list on the West African regional stock exchange (BRVM) over the next five years, chief executive Edoh Kossi Amenounve said.
At the Bloomberg Africa Business and Economic Summit in Cape Town last week, he added that three of these new introductions should happen this year, with two Ivorian banks and a company in the energy sector, Bloomberg reports.
The BRVM became the leading African stock exchange in terms of progression of its index of all listed securities (BRVM composite) in 2015.
This 17.77 per cent progression is related to "to the consolidation of growth within the Economic and Monetary Union of West Africa (WAEMU), particularly in Ivory Coast ", coupled with the new "regional and international promotion strategy deployed for more than three years," said the BRVM in a statement.
Standard & Poor's analysts also attributed this performance to the fact that the BRVM market is little dependent on oil and therefore has not been affected by falling crude prices.
The financial center of the WAEMU ended the year 2015 with a market capitalisation of approximately 7500 billion CFA francs (€11.4 billion), which represents an 18.67 per cent increase over one year.