
BRVM: Composite down 0.72% despite BOA capital increases
The BRVM Composite closed at 408.62 points, down 0.72% on March 20. The industrial sector dropped 2.08%, while public services gained 1.92%. A wave of capital increases by BANK OF AFRICA is underway across multiple subsidiaries, per analyst reports. Coris Bank International is preparing to enter Cameroon to strengthen banking offerings, reports Investir au Cameroun.
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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.