BRVM falls 1.38% despite industrials gaining 3.16%
The West African market closed lower on March 23rd, with the composite index falling 1.38% to 402.99 points. All sectors except utilities (+0.88%) and industrials (+3.16%) posted losses, led by telecommunications (-2.14%) and consumer staples (-2.48%). This negative momentum overshadows multiple capital increases by Bank of Africa group highlighted in analyst reports. Meanwhile, regional press covers banking expansion and inclusive finance initiatives.
Related stories
BRVM (West Africa) — 10 Announcements in 5 Days as Financials Offset a 1.86% Industrial Slide
The BRVM ended the week up 0.28%, with financials rising 1.03% while industrials fell 1.86%. Bank of Africa capital increases and Sonatel’s 1,740 XOF dividend dominated an active Abidjan market.
BRVM (West Africa) — 10 Announcements in One Session as BOA Capital Raises Reshape the Tape
The BRVM ended nearly flat, with the Composite Total Return up 0.03%, but May 7 trading was dominated by 10 official announcements, including several Bank of Africa capital raises. Industrials rose 3.46%, pointing to a broader rotation beyond banks alone.
BRVM ends flat as industrials jump 3.46% amid bank earnings updates
The BRVM Composite ended nearly flat at 403.46 points, up 0.03%, while Industrials jumped 3.46% to 187.43 and Utilities rose 2.77% to 153.61. News flow centered on financials, with Ecobank Cote d'Ivoire reporting first-quarter 2026 profit of 13 billion CFA francs, although higher cost of risk weighed on earnings, according to Sika Finance and Dabafinance. Oragroup reported a 37% rise in profit as cost control offset lower revenue, Dabafinance said, while Ecobank Togo posted a 9.5% drop in 2025 net profit despite strong commercial growth, according to Togo First. In corporate updates, SITAB posted 2025 profit of 36 billion CFA francs, down 18%, Sika Finance reported, while Ecobank Cameroun raised its 2025 dividend to 24.5 billion CFA francs and Ecobank resumed dividend payments after a record 2025 profit, according to Investir au Cameroun and Africtelegraph.