Ecobank drives BRVM headlines as Composite slips 0.13%
The BRVM Composite fell 0.13% to 436.68 points on June 8, while the BRVM Composite Total Return lost 0.13% to 172.48 and the BRVM-30 slipped 0.29% to 204.78. Losses were led by utilities at -1.81%, telecommunications at -1.54% and industrials at -1.45%, while financials rose 0.98% and energy gained 1.14%. Ecobank dominated the newsflow with a 22.5 billion CFA franc dividend approved, equivalent to $40 million paid by Ecobank TI, according to APS and reported by Financial Afrik, while the UMOA Banking Commission approved Bosquet’s entry into the capital, according to Agence Ecofin. The group also confirmed a turnaround plan for its undercapitalized Nigerian unit, according to Agence Ecofin, and said it had financed $3 billion of intra-African trade, while Togo First reported Cathia Lawson-Hall’s election to the board.
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