BRVM rises 0.4% as Ecobank advances $208 million bond buyback
The BRVM Composite rose 0.4% to 416.07 points on May 19, while the BRVM Composite Total Return gained 0.4% to 160.64 and the BRVM-30 added 0.32% to 196.4. Utilities led the move, up 1.64% to 164.79, and financial services climbed 0.76% to 188.05, while energy slipped 0.18% to 141.92 and consumer staples fell 0.38% to 258.55. Ecobank finalized a $208 million buyback offer on its 2031 bonds, according to Investing.com France, while the African Development Bank and Ecobank Centrafrique signed a 5 million euro trade transaction guarantee facility, according to the African Development Bank Group. On the market, FIDELIS FINANCE - PME ELAN CROISSANCE UMOA 2 - 7% 2025-2030 made its first listing on May 19, while BANK OF AFRICA BF and BANK OF AFRICA BN announced capital increases, according to analyst reports.
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BRVM rises 1.42% as telecoms and financials offset industrial slump
The BRVM Composite rose 1.42% to 470.48 points and the BRVM-30 gained 2.05% to 222.2 points, lifted by telecommunications at 110.94 points (+3.01%) and financial services at 222.86 points (+2.36%). The advance masked sharp declines in industrials at 203.72 points (-4.95%), energy at 166.45 points (-3.55%) and utilities at 232.53 points (-2.58%). On the corporate front, Ecobank confirmed a 50 FCFA revaluation, according to Sika Finance, while GCR upgraded Sonatel’s long-term rating, reports Leral.net. In banking, Coris Bank International created a Cameroon unit with 26 billion FCFA and is still awaiting regulatory approval, according to Africtelegraph and Financial Afrik, after inaugurating a new headquarters in Burkina Faso worth more than 19 billion FCFA, Sika Finance reported.
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