The Managing Director of the Regional Stock Exchange (Brvm), Dr Edoh Kossi Amenounve, hosted a videoconference on Friday June 12, 2020 on the theme: “Capital markets and the Covid-19 pandemic: resilience, efficiency and outlook”.

For the occasion, the speaker addressed several essential points, namely: the measures taken by the stock exchanges in the face of the coronavirus pandemic, resilience and investor confidence; the evolution of global and African stock markets since the outbreak of the health crisis linked to Covid-19; the economic and financial impact of the pandemic and above all what capital markets after the crisis?

The general manager of the Brvm and the DC/BR, Edoh Kossi Amenounve, indicated that in general, the stock exchanges have adopted measures which target three major objectives. For them, this means ensuring the safety and protecting the health of their employees, maintaining the confidence of issuers and investors in the capital markets, and continuing to play their role as a barometer of the economy. “The stock exchanges have therefore remained open, thus demonstrating their resilience,” he said.

However, he noted that global stock exchanges have been strained in their ability to digest the information that is being disseminated and to reflect the true value of listed securities.

Indeed, the progressions observed, he said since the beginning of the year, show that the extent of the upward variations is weaker than that of the downward variations.

For him, the health crisis linked to the coronavirus pandemic has not halted the stock markets, because positive developments on market indicators have been recorded, in particular with the values and volumes of transactions, the liftings resources, IPOs and bond market developments.

Regarding the Economic and Financial Impact of the Pandemic, continued the speaker, all forecasts point to a recession in the global economy due to containment measures (quarantine measures, containment, business closures, travel bans , closing of borders, modification of working hours, etc.) that had to be taken. “But it is expected to be short-lived because from 2021, all regions of the world will return to positive growth. We are therefore not facing a situation of economic depression that can spread over a cycle, ”said Edoh Kossi Amenounve.

For the future of capital markets after the crisis, he argued for the emergence of a new post-Covid-19 world order, including at the level of the financial system and capital markets. This new global financial order should be linked to an economic model that aims to strengthen social solidarity and develop "social added value", based on inclusive commitments.

The Brvm and the DC/BR will therefore maintain their 2020-2030 strategic actions which place a large emphasis on technology, disruption, investor education and the integration of stock exchanges, concluded Edoh Kossi Amenounve.