The West African Regional Stock Exchange (BRVM) has achieved a historic milestone, surpassing a market capitalization of 10,000 billion CFA francs (approximately $16 billion) as of December 13, 2024.
This achievement underscores the exceptional growth and dynamism of the financial hub shared by the eight member states of the West African Economic and Monetary Union (UEMOA).
The BRVM, established in September 1998, began its journey with a modest market capitalization of 836.19 billion CFA francs.
By 2008, this figure had risen to 3,336.65 billion CFA francs and continued its upward trajectory to 4,031.38 billion CFA francs in 2012.
More recently, the exchange recorded a market capitalization of 6,085.41 billion CFA francs in 2021, climbing further to 7,966.96 billion CFA francs in 2023.
As of 2024, the BRVM hosts 200,000 securities accounts, with bond holdings estimated at nearly 20,000 billion CFA francs.
This remarkable progress represents a growth of more than 1,100% since its inception.
The sustained economic expansion of UEMOA nations, which have maintained an average annual growth rate of 5.8% for over two decades, alongside the proactive participation of market players, has been a driving force behind this success.
The listing of the Benin National Lottery on December 13, 2024, further solidified the exchange’s position as one of Africa’s top-performing bourses.
The new listing, which debuted at 100.5 billion CFA francs, contributed significantly to the annual increase of over 2,000 billion CFA francs in market capitalization.
“The BRVM’s record-breaking achievement reflects the resilience and ambition of our region’s financial ecosystem,” said one market analyst.
“With this momentum, the exchange is well-positioned to attract even greater investments and drive economic growth across West Africa.”
The BRVM’s rise highlights the growing confidence of investors and stakeholders in the region, showcasing it as a model of financial integration and economic collaboration on the African continent.
