BRVM rises 0.73%, lifted by 3.4% discretionary gains and Ecobank headlines
The BRVM Composite rose 0.73% to 449.82 points and the BRVM-30 gained 0.9% to 211.17, with discretionary consumption leading at 3.4% while utilities slipped 0.08%. Financials added 0.44% to 205.14 points as Ecobank dominated the news flow, with the group approving CFA22.5 billion in dividends and Ecobank Transnational Incorporated paying out $40 million, according to APS and Financial Afrik. The sector narrative stayed focused on capital and balance-sheet strengthening, with Ecobank Central African Republic raising capital to $28 million and aiming for the Cobac threshold, while Ecobank Nigeria confirmed a recovery plan, according to Agence Ecofin. Financing headlines also underpinned the tone, with Ecobank funding $3 billion in intra-African trade, Ecobank Ghana raising $200 million to expand the Sentuo Oil refinery, and Coris Bank International Chad negotiating a $10 million IFC guarantee line, according to Agence Ecofin, energynews.pro and Sika Finance.
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