The Regional Council for Public Savings and Financial Markets of
the West African Economic and Monetary Union (UEMOA) has raised since 1998 more than 9,500 billion
CFA francs of resources, announced Thursday Alioune Ndiaye, the director of cabinet of the Senegalese minister of
Budget.
He noted that more than 62% of this money was used directly to finance the needs of the States,
particularly in terms of infrastructure, 55 bond lines listed on the BRVM (Bourse
Regional Securities), four lines of sukuk (Islamic finance) and 46 listed companies
of the BRVM.
Mr. Ndiaye estimated that the BRVM has therefore "contributed to the mobilization of regional savings, one of the
key objectives set at the start of the market".
However, he pleaded, "in a context of increased demands on States with regard to their ambitious
national development or emergence programs, and the private sector, the engine of creation
jobs and wealth, it seems necessary and urgent to continue the effort to modernize the framework
to make it more attractive to all by consolidating the protection of savers".