BRVM: The Abidjan-Based Regional Stock Exchange Shared by Eight West African Countries

Abidjan, the economic capital of Côte d'Ivoire (in West Africa, French-speaking, the world's largest cocoa producer), is home to a cross-border stock exchange. The BRVM gives eight countries a single shared market for shares and bonds, and it is a good starting point for Asian readers who want to understand West African companies and capital flows.

One exchange shared by eight countries

BRVM stands for Bourse Régionale des Valeurs Mobilières (Regional Securities Exchange). It was incorporated as a public limited company on 18 December 1996 and began operating in September 1998. It is shared by the eight member states of the West African Economic and Monetary Union (UEMOA), and official Ivorian sources describe it as the only stock exchange in the world shared by several countries.

The regional market rests on three institutions: the BRVM itself handles listing, trading and settlement; the Central Depository/Settlement Bank (DC/BR, Dépositaire Central/Banque de Règlement) handles securities registration and clearing; and the Regional Financial Markets Authority (AMF-UMOA) is the regulator. Investors generally place orders through licensed brokerage firms (SGI, Société de Gestion et d'Intermédiation).

Since 2 January 2023 the equity market has been divided into three compartments: Prestige (flagship), Principal (main board) and Croissance (growth board). Two new indices, the BRVM 30 and BRVM Prestige, were added alongside the BRVM Composite, which covers all listed shares.

2025 results

According to annual figures released in January 2026, the BRVM set several records in 2025:

By sector, financial services account for about 40% of market capitalisation, telecoms about 37% and consumer goods about 14%. Fundraising is dominated by bonds, mostly issued by member-state governments, while equity transactions account for only a small share of the total raised.

Côte d'Ivoire's weight on the BRVM

Côte d'Ivoire is the BRVM's mainstay. At the end of 2025, 34 Ivorian companies were listed, with a market capitalisation of about XOF 8.4 trillion. By comparison, Senegal had only 3 listed companies but a market capitalisation of about XOF 2.9 trillion, because they include large firms such as the telecoms operator Sonatel. Another landmark was the listing of Orange Côte d'Ivoire on 30 December 2022, reported by the financial press at the time as the largest new listing on the BRVM by market capitalisation at the time of listing.

For observers, the BRVM remains small with limited liquidity: average daily trading value in 2025 was about XOF 1.4 billion. But record index highs and active government bond issuance show that its role in regional financing is growing.

One line for Asian readers

If you want to research West African banks, telecoms or consumer goods companies, the financial statements and announcements published on the BRVM are an excellent database; before actually investing, check account eligibility and the relevant rules with a licensed broker and the regulator.

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References: Economie-ivoirienne.ci – Présentation de la BRVM; Connectionivoirienne – Plus de 4 200 milliards FCFA mobilisés en 2025 (2026); Financial Afrik – La BRVM termine l'année avec la cotation d'Orange CI (2022); Wikipedia – BRVM