Togo ranks 4th on the regional market, valorization exceeds CFA1,100 billion

Monday, 15 May 2023 14:53
Togo ranks 4th on the regional market, valorization exceeds CFA1,100 billion

(Togo First) - Togo is the fourth most important actor on the BRVM, the stock market of the West African Economic and Monetary Union (WAEMU). This was recently revealed by the stock’s boss, Edoh Kossi Amenounve. 

According to him, the country, which has the 7th highest GDP in the WAEMU, has a market capitalization of 497 billion CFA francs in the equities segment and two listed companies, making it a significant player in the market.

In the bond segment, Togo has 17 bond lines valued at 609.9 billion CFA francs. In this segment, Togo comes right behind countries like Ivory Coast, Senegal, and Burkina Faso. Some of the bonds were issued by regional organizations headquartered in Lomé, such as the CRRH-WAEMU and the EBID.

The figures were disclosed during the opening ceremony of the BRVM Awards in Lomé on May 10th. Launched in 2020, the BRVM Awards are a joint initiative of the BRVM and the Central Depository/Settlement Bank (DC/BR). They recognize major contributions to the BRVM’s activity and growth.

During this 4th edition of the BRVM Awards, the President of Togo, Faure Essozimna Gnassingbé, and the former president of WAEMU’s Council of Ministers, Sani Yaya, received special honors for their contributions to Togo's economic development.

Prime Minister Victoire Dogbé, who presided over the opening of this 4th edition, underscored her government's commitment to making Togolese firms more visible on the regional exchange. A commitment that aligns with the authorities’ ambition to make Togo a financial hub in Africa. Dogbé pointed out that the BRVM must help drive inclusive growth and promote sustainable development in Togo.

The two Togolese companies listed on the BRVM are Oragroup and the Ecobank group. They are both very active on the market, and Ecobank is among the ten most valued companies on the exchange.

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