BRVM Stocks Gain CFA 218 Billion as Bernabe Leads Market Rebound

BREAKING NEWSNovember 1, 2026 at 10:21 AM UTC

TLDR

Stocks on the West African regional exchange (BRVM) gained CFA 218.32 billion in market value during the week ended October 30, 2026
The BRVM Composite Index rose 1.05% to 534.71 points, while the BRVM-30 gained 1.10% to 259.18 points
Bernabé Côte d'Ivoire led weekly gainers, rising 14.29% to CFA 2,000 after reporting a return to profitability in its third-quarter results

Stocks on the West African regional exchange (BRVM) gained CFA 218.32 billion in market value during the week ended October 30, 2026, ending 2 consecutive weeks of losses as investors returned to equities. The BRVM Composite Index rose 1.05% to 534.71 points, while the BRVM-30 gained 1.10% to 259.18 points. The BRVM Prestige advanced 0.88% to 198.32 points, and the BRVM Principal increased 1.02% to 372.81 points. Equity market capitalization reached CFA 20.97 trillion, while the Composite Index extended its year-to-date gain to 54.65%.

Trading activity increased following the implementation of Sonatel's 10-for-1 stock split on October 26. Investors exchanged 12.92 million shares during the week, up 125.57% from 5.73 million previously, while transaction value rose 60.83% to CFA 23.77 billion. Sonatel accounted for CFA 17.47 billion in transactions, representing 73.47% of market turnover. Société Générale Côte d'Ivoire followed with 3.56%, while Ecobank Transnational Incorporated accounted for 2.05%. Market breadth improved, with 26 stocks advancing, 19 declining and 1 remaining unchanged.

Bernabé Côte d'Ivoire led weekly gainers, rising 14.29% to CFA 2,000 after reporting a return to profitability in its third-quarter results. Compagnie Ivoirienne d'Électricité gained 12.59% to CFA 5,500, recovering part of its 15.78% decline the previous week. Bank of Africa Niger advanced 8.25% to CFA 5,250 following its earnings release. Retail and distribution stocks led sector gains at 11.13%, followed by infrastructure at 8.45% and publishing and media at 7.26%.

NSIA Banque Côte d'Ivoire recorded the largest weekly decline, falling 9.90% to CFA 18,650, followed by Setao Côte d'Ivoire, which dropped 6.32% to CFA 1,780. Sucrivoire lost 4.42% to CFA 2,270, while Nestlé Côte d'Ivoire declined 3.60%. Building materials fell 6.32%, while electrical equipment and automobile manufacturers lost 2.50% and 2.40%, respectively. The declines came as companies released earnings for the first 9 months of 2026.

Meanwhile, Ecobank Group canceled its October 26 shareholder meeting on the proposed removal of directors following instructions from the WAEMU Banking Commission calling for further consultations. The decision came during a week of corporate earnings announcements across the exchange. In the bond market, capitalization declined 0.18% to CFA 13.44 trillion, while transaction value fell to CFA 1.35 billion from CFA 2.76 billion the previous week.

Points clés à retenir

The BRVM's return to gains after 2 weeks of losses shows a recovery in demand for equities, but the increase in trading activity needs to be viewed alongside Sonatel's stock split. Weekly share volume rose 125.57%, while transaction value increased 60.83%, with Sonatel accounting for 73.47% of turnover. The split increased Sonatel's outstanding shares from 100 million to 1 billion and reduced the reference price per share to 1/10 of its previous level. As a result, part of the increase in trading volume reflects the change in the number of shares rather than an equivalent increase in capital invested. The transaction does not change Sonatel's market capitalization or shareholders' ownership stakes. Beyond Sonatel, the market showed signs of recovery, with 26 stocks advancing against 19 decliners. Corporate earnings also influenced performance. Bernabé gained 14.29% following its return to profitability, while CIE recovered 12.59% after losing 15.78% the previous week. However, the decline in NSIA Banque and the fourth consecutive weekly loss for Setao show that investors continue to differentiate between companies. The cancellation of Ecobank Group's shareholder meeting also adds a governance issue for investors to monitor. With the BRVM Composite up 54.65% in 2026, upcoming earnings disclosures, liquidity outside Sonatel and the sustainability of demand will help determine whether the recovery continues into November.