BRVM stocks hit fresh highs as overall market cap crosses 9trn FCFA

Daba Finance/BRVM stocks hit fresh highs as overall market cap crosses XOF 9trn

BREAKING NEWSAugust 9, 2024 at 2:47 PM UTC

TLDR

BRVM market capitalization surpasses 9 trillion CFA francs ($15 billion) for the first time on August 8, 2024, reflecting significant equity market growth.
BRVM's market capitalization journey: 4 trillion in 2012 to 9 trillion in 2024, with a remarkable 20% increase in less than eight months of 2024.
Rapid gains demonstrate strong performance and growing investor confidence in the BRVM market.

WAEMU regional stock exchange BRVM made history on Thursday, August 8, 2024, by surpassing the 9 trillion CFA franc (around $15 billion) mark in market capitalization for the first time.

The benchmark composite index rose 0.54% to 242.77 points, its highest level since April 2018, mainly supported by the most valuable listed companies Sonatel (+1.4% to 20,990 FCFA) and Orange CI (+0.86% to 13,415 FCFA), which reached high levels.

The BRVM 30 and BRVM Prestige indices also posted respective gains of 0.58% to 121.62 points and 0.14% to 111.1 points. This milestone reflects significant growth in the equity market, which has seen rapid gains in recent years.

Key Takeaways

The BRVM stock market reached a market capitalization of 4 trillion CFA francs on December 13, 2012, and steadily climbed to 5 trillion CFA francs on May 27, 2013, 6 trillion CFA francs on January 29, 2014, 7 trillion CFA francs on July 9, 2015, and 8 trillion CFA francs on September 12, 2023. In less than eight months of 2024, the BRVM has added around 1.5 trillion CFA francs in capitalization, representing a 20% increase. This rapid growth underscores the strong performance and increasing investor confidence in the BRVM market.

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