BRVM rises 0.33% as Sonatel splits shares and Ecobank steps up announcements
The BRVM Composite rose 0.33% to 521.99 points on October 22, while the BRVM Composite Total Return added 0.34% to 210.3 points and the BRVM-30 gained 0.33% to 252.87 points. Gains were led by telecommunications, up 0.74% to 143.22 points, while utilities fell 1.39% to 217.76 points and consumer discretionary lost 0.93% to 181.29 points. Sonatel has launched a 1-for-10 share split to make the stock more accessible to investors, according to Africtelegraph and SeneNews. In banking, Coris Bank International appointed 2 executives in Ivory Coast, with Alassane Kabore moving after 7 years in Togo and Nikada Tchanguaï named deputy chief executive, according to Le Nouveau Reporter and Financial Afrik. Ecobank featured in several announcements, including $230.8 million in financing for new strategic projects in Benin, equivalent to CFA138.5 billion for state projects according to Agence Ecofin and APAnews, alongside a CIPS partnership on cross-border payments and the launch of “MoMo” in Kinshasa, Africa News Agency and Actualite.cd reported.
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