BRVM down 0.7% despite bank capital increases
The West African market closed down 0.7% with the composite index at 413.71 points. Discretionary consumption plunged 2.41%, while industrials gained 0.44%. According to Financial Afrik, Ecobank reported a 194% increase in loans to women-led businesses. A series of bank capital increases failed to support the market.
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Ecobank leads a flat BRVM as utilities jump 3.68%
The BRVM Composite was flat at 403.38 points and the Total Return index edged up 0.01% to 155.51, while the BRVM Principal rose 1.22% to 283.6 and the BRVM-30 fell 0.43% to 189.49. Trading showed a sharp sector split, with utilities up 3.68% to 147.82 and consumer staples gaining 2.46% to 265.66, against a 2.41% drop in consumer discretionary to 189.45 and a 0.99% decline in telecommunications to 101.47. On the corporate front, Ecobank Côte d’Ivoire approved record 2025 results and outlined its 2026 ambitions, according to Afrimag, while Ecobank Transnational Incorporated released its first-quarter 2026 results, according to Zonebourse. Separately, Ecobank Group plans to raise $500 million to refinance debt, Dabafinance reported, while Ecobank Côte d’Ivoire, BNI, Bank of Africa Côte d’Ivoire and Coris Bank International Côte d’Ivoire mobilised 200 billion CFA francs to support PETROCI Holding on Baleine Phase 2, according to FratMat.
BRVM (West Africa) — Banks Take the Lead as 4 Capital Raises Hit a Two-Speed Market
The BRVM rose 0.24% on April 28, 2026, but the real story was in financials: BICI CI, SIB and several Bank of Africa names advanced as four capital raises were launched. Beneath the index, the Abidjan market remained split between resilient banks and weaker consumer stocks.