BRVM Main Index Falls for Second Week as Sonatel Stock Split Nears

BREAKING NEWSOctober 24, 2026 at 9:58 PM UTC

TLDR

Stocks on the West African regional exchange (BRVM) fell for a second consecutive week, wiping CFA 135.8 billion from market value in the five trading sessions
The BRVM Composite Index declined 0.65% to 529.14 points, following a 2.61% drop the previous week
Unilever Côte d'Ivoire led weekly gainers, rising 7.47% to CFA 48,360 per share, supported by a limited supply of shares available for trading

Stocks on the West African regional exchange (BRVM) fell for a second consecutive week, wiping CFA 135.8 billion from market value in the five trading sessions ended October 23, 2026. The BRVM Composite Index declined 0.65% to 529.14 points, following a 2.61% drop the previous week. The BRVM-30 fell 0.46% to 256.35 points, while the BRVM Prestige lost 0.18% to 196.59 points. The BRVM Principal declined 1.23% to 369.06 points. Despite the losses, the Composite Index remained up 53.04% since the start of 2026.

Trading activity increased despite the market's decline. Investors exchanged 5.73 million shares, up 20.88% from 4.74 million the previous week, while transaction value rose 12.04% to CFA 14.78 billion. Equity market capitalization fell to CFA 20.75 trillion from CFA 20.89 trillion. Of the 46 stocks covered in the weekly report, 15 gained, 28 declined and 3 remained unchanged. Sonatel accounted for CFA 9.06 billion in transactions, representing 61.28% of total equity turnover, ahead of Société Générale Côte d'Ivoire and Bridge Bank Group Côte d'Ivoire.

Unilever Côte d'Ivoire led weekly gainers, rising 7.47% to CFA 48,360 per share, supported by a limited supply of shares available for trading. The company's free float stands at 0.22%, making its stock sensitive to changes in demand. SAPH Côte d'Ivoire gained 5.26% to CFA 8,000, while Sucrivoire advanced 4.63% to CFA 2,375. Transportation and logistics led sector gains at 4.53%, followed by publishing and media at 1.43% and agro-industries at 1.35%.

Compagnie Ivoirienne d'Électricité recorded the largest decline, dropping 15.78% to CFA 4,885, although its shares remained up 106.99% year to date. Tractafric Motors Côte d'Ivoire fell 11.42% to CFA 3,800 following its ex-dividend date, while TotalEnergies Marketing Côte d'Ivoire lost 6.61% to CFA 2,895. The infrastructure sector declined 10.39%, followed by building materials and automobile equipment manufacturers, which fell 6.40% and 6.37%, respectively.

Meanwhile, Sonatel prepared for its 10-for-1 stock split scheduled for October 26, which will increase outstanding shares from 100 million to 1 billion without changing its CFA 50 billion share capital. Each existing share will become 10 shares, with the reference price adjusted accordingly. In the bond market, capitalization fell 0.26% to CFA 13.47 trillion, while weekly transaction value reached CFA 2.76 billion.

Points clés à retenir

The BRVM's second consecutive weekly decline has reduced its equity market capitalization by about CFA 695 billion over 2 weeks, but the Composite Index remains up 53.04% in 2026. The latest trading figures reveal a change in market activity. Unlike the previous week, when both prices and transaction volumes declined, trading volume increased 20.88% and turnover rose 12.04% despite falling stock prices. However, much of that activity came from Sonatel, which accounted for more than 61% of transactions ahead of its October 26 stock split. The split will reduce the price per share to 1/10 of its pre-split reference price, while increasing the number of shares held by investors by a factor of 10. It will not change Sonatel's market capitalization or shareholders' ownership percentages. The lower share price could allow more retail investors to participate, although an increase in liquidity is not guaranteed. The concentration of trading in Sonatel also highlights the BRVM's dependence on a limited number of securities for market activity. This challenge extends to companies with low free floats, including Unilever Côte d'Ivoire, whose 0.22% publicly available shareholding can contribute to price swings when demand changes. Meanwhile, CIE has fallen 22.47% over 2 weeks despite remaining up more than 100% year to date, demonstrating how gains can reverse during periods of selling. Investors will be watching whether Sonatel's split supports trading activity, whether losses in infrastructure stocks continue and whether buying interest spreads to other listed companies.

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