"The demands to improve the governance of listed companies have emerged following the financial scandals (Enron, Palmarat etc.). This favored the appearance of laws (Sarbanne-Oxley in the United States) as well as specific regulations in several countries. The latter have highlighted flaws that can present major risks for the survival of companies, "said the Director General of the Regional Stock Exchange (Brvm), Dr. Edoh Kossi Amenouve, at the Annual Conference of the Moroccan Institute of Directors (Ima) in Rabat (Morocco), Tuesday 03 March.

This conference is organized around the theme : "Corporate Governance in Africa and Challenges for Access to Capital". According to the head of the Brvm,  " governance and responsible investment are today major issues for listed companies"  because these companies are public  offerings. Which, for him, is a major problem. And also one more reason for most regulators to adopt  governance rules, which they have imposed or recommended, as the case may be, to listed companies.

"For example, stock exchanges such as Euronext Amsterdam, Euronext Paris, Australian Securities Exchange, Stockholm Stock Exchange, JSE have legislation that imposes CSR Reporting on listed companies. With regard to the Brvm, the common law of Ohada, requires listed companies, the implementation of specialized Committees (Audit, Governance, Remuneration etc.) emanating from the Boards of Directors, "said Dr. Edoh Kossi Amenouve.

The BRVM will soon adopt a code of governance for listed companies that will set a general framework for governance and social responsibility in our market. It is aware of these challenges that the Stock Exchanges have massively joined the Sustainable Stock Exchange (SSE), a United Nations Initiative that currently has 94 members, including 15 African stock exchanges. The BRVM has been a member of the SSE since 2016. In this context, like the other members, she participates in the "Ring the Bell" event, of which the IFC, UN Global Compact, UN Women, WFE, Women in ETFs, are partners. This event is organized around the world on International Women's Day, March 8. Beyond this initiative, the BRVM, in accordance with the HSE's due diligence, works to promote gender within its governance and managerial bodies. "In addition," explains Mr. Amenounvé, " by supporting initiatives such as the Fight against Breast Cancer, the BRVM has included in its agenda since 2018, CSR actions to support social actions in the countries of the West African Economic and Monetary Union."

It must be said that the annual conference of  the Moroccan Institute of Administrators  is part of the cycle of annual conferences of the Acgn network (African corporate governance network).