The compilation of transaction values at the Abidjan Regional Stock Exchange (BRVM) in
2019 gives a clear picture of the position of the various players in the secondary market.
Thus, CGF Bourse tops the list of stock exchange companies according to the value of transactions at the BRVM with a
market share of 18.58% reflecting the dynamism of its teams and the quality of its management.
The Senegal-based stock exchange company is followed by Hudson & Cie with 15.83% of transactions
Stock. Behind this tandem that has reigned on the market for several years, Attijari SWA stands out with
10.39%, a few dusts of decimals, ahead of the BICI Bourse (10.21% market share), the Company
General CSWA (8.35%), Edc Investment Corporation (7.61%), BOA Capital Securities (7.10%) and Coris
Stock market (3.93%). The total value of stock market transactions in 2019 was CFAF 136.3 billion or
a daily average of 547 million FCFA.
Behind this top 8, no stock exchange company concentrates 2% of market share. So would there be too much b brokers on the market? Asked about the issue, this analyst kicks in touch. "Animation and promotion
Stock exchange constituting the first mission of intermediaries, it should be said, the ranking on the
trading volume is the main criterion for assessing the importance of a stock exchange company on the market".
It should be noted that the market is bearish (-7.55% for the composite BRVM; -3.4% for the BRVM 10), reducing
thus the volumes traded on the secondary market.
Thus, some intermediaries have slipped from their flagship activity of promotion and animation of the market to
other related activities. From a P/E of 11.68 in 2018 to 10.30 points in 2019, the BRVM is becoming more and
plus an attractive place with very appreciable returns.
In total, in 2019, the BRVM paid investors and other savers more than 849 billion
FCFA in terms of, mainly, dividends, interest payments on bonds and repayment
of capital.
The leading stock exchange companies are those that have managed to position themselves on the primary market during the
IPO or bond transactions and who actively work in animation
and the promotion of the financial market.
In 2019, the total resources raised on the primary market amounted to more than 1500 billion FCFA
of which 58 billion recorded on the largest IPO (sale of shares with new IPO) of
the history of the BRVM, that of Oragroup and 1000 billion on sovereign bonds.
In the bond segment, a certain crowding-out effect was noted, with the reduction in issues
sovereign by way of syndication. Indeed, the overall amount recorded on these emissions is 1000
billion CFA francs against three and a half times (3,500 billion CFA francs) for sovereign issues by
tendering route, i.e. through the UMOA-Titres.
This stated preference of the Member States of the Union is the subject of debate among market players. The latter
want maturities to be able to render the money market by auction and the financial market
complementary, taking into account the proposed maturities.