Daba Finance Featured on Les Têtes d’Affiches by Denise Epote on RFI

For many retail investors in Côte d’Ivoire, the question is simple: Is it smarter to invest money in a chicken farm or to put it into the BRVM? 

Both options can create real wealth — but their risk profiles, capital needs, and effort required are very different. We explore both options below.

Option 1: The BRVM – Huge Upside, Low Effort

The BRVM has been one of Africa’s best-performing stock markets in 2025.

• BRVM Composite Index: +24.73% YTD (2025)
  
• Many individual stocks have returned 100%–400% YTD, as seen in the attached list:
  
  • Unilever CI: +486%
  • SITAB: +300%
  • SILOX/CFI/SAPH also showing triple-digit gains
  • Banks (BOA, BICICI, Ecobank) posting 30–70% annual returns
    

Why the BRVM Is Attractive Today

1. High liquidity for a frontier market – thanks to digital investment platforms.
2. Strong dividend culture – banks and consumer staples often yield 5–10% per year.
3. CFA franc stability – pegged to EUR, reducing currency risk.
4. No operational stress – no staff, no disease outbreaks, no raw material shortages.
   

Capital Required

You can start with as little as 10,000 XOF.

Potential Returns

• Base case (index return): 20–25% per year
• Optimistic case (stock picking): 40–100%+ per year
• Dividend income: 5–8% annually
  

Risks

• Market volatility
• Company-specific shocks (fraud, bad results, regulation)
• Liquidity constraints for smaller stocks
• Behavioral risks: panic selling, poor diversification
  

But overall, investing in the BRVM requires very low time commitment and delivers strong historical returns.

Option 2: Starting a Chicken Farm

A small farm (300–500 broilers or 200–300 layers) is a common business idea, but it is far more complex than people imagine.

Step-by-Step Breakdown: What It Takes to Launch a Chicken Farm

A. Planning & Setup

• Choose between broilers (cycle 6–8 weeks) or layers (18-month cycle).
• Find a suitable location (outside dense areas).
• Build or rent a poultry structure.
  

Setup Costs:

Item	Estimated Cost (XOF)
Basic poultry house (500 birds)	500,000 – 1,500,000
Feeders & drinkers	100,000 – 250,000
Water system	50,000 – 150,000
Lighting & ventilation	50,000 – 200,000
Sanitization materials	30,000 – 60,000
Initial chicks (broilers)	500–700 XOF per chick
Vaccines + vet care	40–70 XOF per chick
First-cycle feed	350,000 – 600,000
Total initial investment	1,300,000 – 3,000,000 XOF

B. Operating the Farm: Weekly Work Required

• Buy feed (price volatile).
• Clean the coop daily.
• Ensure temperature & ventilation.
• Vaccinate and monitor birds.
• Manage waste disposal.
• Negotiate with buyers (restaurants, markets, wholesalers).
  

This is manual work, almost every day.

C. Potential Returns

Example: 500 Broiler Chickens

• Purchase price: 500–700 XOF each
• Sell price (after 6–8 weeks): 2,500–3,500 XOF per chicken
• Gross revenue: 1,250,000 – 1,750,000 XOF
• Total cost per cycle: 800,000 – 1,200,000 XOF
  

Net profit per cycle:

 → 450,000 – 550,000 XOF every 45 days
→ 360,000 – 450,000 XOF per month equivalent

Annual ROI Estimate

If all cycles run smoothly:

→ 30% to 60% annual return on capital

But Here Are the Real Risks

• Disease outbreaks (Newcastle, avian flu) can wipe out the flock.
• Feed price volatility (the majority of costs).
• High mortality if ventilation, vaccination, or hygiene fails.
• Market access risk — selling birds at full price is not guaranteed.
• Labour-intensive — requires daily involvement.
• Cashflow gaps — revenue comes in cycles, but costs are constant.
  

If one cycle fails, your annual return can drop from +40% to −20% instantly.

3. Comparing Both Options for a Retail Investor

Capital Requirement

• BRVM: Start from 10,000 XOF
• Chicken Farm: ~1.3–3.0 million XOF upfront
  

Operational Work

• BRVM: Almost none
• Chicken Farm: Daily manual work + vet management
  

Reliability of Returns

• BRVM: Volatile but historically strong
• Chicken Farm: Highly profitable but fragile and inconsistent
  

Liquidity

• BRVM: Immediate (sell any time with digital platforms)
• Chicken Farm: Low (birds must reach maturity to sell)
  

Risks

• BRVM: Price swings, company performance
• Chicken Farm: Disease, feed prices, mortality, labor risks, climate, regulations
  

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4. So…Which Is Better?

If you want passive, scalable, liquid returns:

✔️ BRVM investing is the better choice.
You can compound capital quietly with strong long-term returns and minimal effort.

If you want an active business that can deliver higher—but unstable—profits:

✔️ A chicken farm can outperform — but only with expertise, discipline, and risk management.
It is a real business, not a side hustle.

Comparison: Chicken Farm vs. BRVM Investment

Category	Chicken Farm (Small-Scale)	BRVM Investment
Minimum Capital Needed	1,300,000 – 3,000,000 XOF	10,000 XOF (can start smaller)
Typical Annual Returns	30% – 60% (if no cycle failure)	20% – 25% on index / 40% – 100%+ on selected stocks
Liquidity	Low – cash only after birds mature (6–8 weeks per cycle)	High – can sell shares anytime
Time & Effort Required	Very high (daily feeding, cleaning, vaccination, monitoring)	Very low (monitor portfolio, quarterly review)
Skill Level Needed	High – animal care, disease control, supply chain, negotiation	Low to medium – learn investing basics
Operational Risks	Very high: disease, mortality, feed price volatility, climate, theft, labour challenges	Medium: market volatility, poor stock selection, macro risk
Income Predictability	Highly variable – revenue depends on survival rate & market access	Moderate – dividends predictable, price appreciation uncertain
Profit Cycle	Every 45 days (broilers) or monthly (layers’ eggs)	Continuous – can realize profits any time
Scalability	Limited by land, labour, and disease risks	High – can scale portfolio instantly with more capital
Regulatory Requirements	Minimal but subject to veterinary and sanitation rules	Very low – only KYC/AML compliance
Sensitivity to Market Conditions	High–feed cost spikes + disease outbreak = profit collapse	Medium – depends on company earnings and overall market sentiment
Passive or Active?	Active business (hands-on)	Passive investment
Worst-Case Scenario	Full flock loss → total capital depletion	Portfolio decline → temporary or partial loss
Best-Case Scenario	60%+ annual ROI if cycles run well and mortality is low	100%–400%+ on high-performing stocks; plus dividends
Suitability for Beginners	Not ideal unless trained or supervised	Very suitable — beginner-friendly

Final Verdict

For the average retail investor in Côte d’Ivoire, investing in the BRVM is a safer, easier, and more consistent way to build wealth.

A chicken farm can generate high returns, but it requires:

• high discipline,
• daily operations,
• risk tolerance for disease and mortality, and
• solid working capital.
  

A balanced strategy could be:

👉 Build savings and investment cash flow through BRVM investments first,
👉 then expand into a chicken farm once you have the time, capital, and experience to manage it professionally.