Public Securities: Ecobank is now Togo’s leading primary dealer

Monday, 01 July 2019 17:30
Public Securities: Ecobank is now Togo’s leading primary dealer

(Togo First) - On July 1, 2019, the UMOA-Titres agency released its rankings of best Primary Dealers of treasury securities. In depth, the rankings looked at the countries participation in issuances, how engaged they are on the secondary market and how good is their collaboration with national treasuries.

Primary dealers are the only ones allowed to directly take part in issuances conducted by the Public Security Market. They are also in charge of animating the secondary market, advising and assisting States with issuance policies. In the WAEMU, there are 29 of them, 23 banks and six brokerage firms, all of which were ranked in UMOA-Titres’ index.

In Togo, Ecobank is now the leading primary dealer, a position it stripped from Orabank. The latter is followed by Coris Bank, Bank of Africa (BOA) and State-owned lender UTB which is being privatized. UTB, it should be emphasized, is one of the very few primary dealers to finance public securities in the union’s other member-States without being implanted in these countries.

Fiacre E. Kakpo

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