BRVM edges lower as energy rises 1.22% amid Ecobank-driven headlines
The BRVM Composite fell 0.14% to 436.06 points and the BRVM-30 lost 0.38% to 204.01 points on June 9, while the energy index rose 1.22% to 152.3 points, according to market data. Financials slipped 0.41% to 199.62 points as Ecobank dominated headlines, approving CFA22.5 billion in dividends, according to APS, while Ecobank TI paid $40 million in dividends, Financial Afrik reported. The group also confirmed a turnaround plan for its undercapitalized Nigerian unit, according to Agence Ecofin, while increasing the number of profitable African subsidiaries from 15 to 25 in 4 years, the same source said. Agence Ecofin also said the UMOA banking commission approved Bosquet’s entry into Ecobank’s capital, while the group said it had financed $3 billion in intra-African trade.
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