Lomé hosts the 4th edition of BRVM Awards

Thursday, 11 May 2023 19:37
Lomé hosts the 4th edition of BRVM Awards

(Togo First) - The 4th edition of the BRVM Awards ends today. The event, which started yesterday, May 10, focused on the development of financial markets and integration issues. It gathered about 300 stakeholders from the regional financial institutions of the West African Economic and Monetary Union (WAEMU), particularly those involved in the regional stock market.

The opening ceremony of the Lomé event was presided over by Togolese Prime Minister Victoire Tomegah-Dogbe, in the presence of Badanam Patoki, the president of the WAEMU's Financial Market Authority (FMA-WAEMU), and Adama Coulibaly, the Minister of Economy and Finance of Côte d'Ivoire.

According to Tomegah-Dogbe, this edition of the BRVM Awards took place at a crucial economic and financial juncture–one that requires taking every chance to strengthen ties between regional financial actors. She encouraged enhanced cooperation to tackle the challenges that WAEMU countries are facing.

The official also stressed that financial markets are a key driver for stimulating growth, prosperity, and resilience. She believes these markets need to raise more funds for supporting infrastructure projects, SMEs, and invest in key sectors. "The stock market should not only be associated with large listed companies but must position itself to impact the entire economy of our countries," Tomegah-Dogbe said.

Economic Resilience

"Capital Markets and Economic Resilience" was the theme of the 2-day event. This theme, according to Edoh Kossi Amenounve, the CEO of the Regional Securities Exchange (BRVM), is evocative given the troubled macroeconomic context.

The CEO of the BRVM reported that despite a challenging environment characterized by declining global stock markets and rising key interest rates, the organization raised slightly more funds (0.46%) last year than the year before. The context, in his opinion, calls for better organization to deal with rising crises, and explore technological solutions for boosting financial sectors.

A Distinguishing Event

In addition to being an annual meeting for stakeholders in the regional financial market, the BRVM Awards also is an occasion where the region’s financial actors are recognized.

This year, there were eight award categories integrating quantitative and qualitative criteria. Winners will be actors who helped sustain or develop market activities in 2022, in a significant manner.

The BRVM Awards were launched in 2020, and the first edition was held in Dakar, Senegal. 

Esaïe Edoh

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