BRVM slips 0.41% as Ecobank steps up growth plans
The BRVM Composite fell 0.41% to 546.78 points on October 2, while the BRVM-30 lost 0.53% to 264.57, with telecoms down 2.27% and discretionary consumption off 2.75%. Financials rose 1.13% to 250.17 points and the BRVM Principal added 0.43% to 383.35, after an October 1 analyst note said BOAM had climbed 1.5% following its capital increase. On the corporate front, Ecobank wants to raise lending to women entrepreneurs and agricultural SMEs to 2.28 billion euros, and wants to mobilize $2.6 billion by 2030, according to latribune.fr and Togo First. The group is also preparing a capital increase in Congo ahead of the arrival of Afriland and CCA Bank, EcoMatin reported, while Jeremy Awori said acquisitions are the fastest way to grow where Ecobank is smaller, according to Jeune Afrique.
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