BRVM slips 0.12% as Ecobank CI earmarks CFA49 billion for shareholders
The BRVM Composite fell 0.12% to 401.71 points on April 15, while the BRVM Composite Total Return closed at 154.69 points, also down 0.12%. The decline was driven by discretionary consumption, down 3.89%, and industrials, off 2.35%, while telecommunications rose 0.8%. On the corporate side, Ecobank Côte d'Ivoire earmarked CFA49 billion for shareholder remuneration, according to Sika Finance. In capital markets, Dangote Petroleum could pursue a pan-African IPO that may reshape African exchanges or repeat the Ecobank misstep, Financial Afrik reported.
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BRVM rises 1.42% as telecoms and financials offset industrial slump
The BRVM Composite rose 1.42% to 470.48 points and the BRVM-30 gained 2.05% to 222.2 points, lifted by telecommunications at 110.94 points (+3.01%) and financial services at 222.86 points (+2.36%). The advance masked sharp declines in industrials at 203.72 points (-4.95%), energy at 166.45 points (-3.55%) and utilities at 232.53 points (-2.58%). On the corporate front, Ecobank confirmed a 50 FCFA revaluation, according to Sika Finance, while GCR upgraded Sonatel’s long-term rating, reports Leral.net. In banking, Coris Bank International created a Cameroon unit with 26 billion FCFA and is still awaiting regulatory approval, according to Africtelegraph and Financial Afrik, after inaugurating a new headquarters in Burkina Faso worth more than 19 billion FCFA, Sika Finance reported.
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