The Chairman of the Regional Council of Public Savings and Financial Markets (Crepmf), Mamadou Ndiaye, accompanied by a representative sample of financial market players, faced Monday, June 4 in Dakar, the students of the African Center of Postgraduate Studies in Management (CESAG), Institute of Excellence of the Central Bank of West African States (BCEAO).
The meeting that took place as part of the financial education campaign launched by the Financial Market Constable was an opportunity to present the BRVM in its regulatory architecture oriented towards the protection of investors, its various compartments, its issues (1,300 billion FCFA for the year 2017), its market capitalization (CFAF 9,831 billion as of March 31, 2018, ie 10% of WAEMU’s GDP compared to a ratio of 40% in emerging countries) and its ecosystem comprising 179 players as of March 31, 2018. “We are working to strengthen the operating framework of the market,” said Mr. Ndiaye.
Appointed head of the market surveillance body in mid-2017, Mr. Ndiaye already has to his credit, the launch on 19 December of the same year, the third compartment of the BRVM. This compartment dedicated to SMEs is accompanied by a range of measures including listing sponsors to coach the companies candidates. “The frame is ready. We must now operationalize it, “commented Mr. Ndiaye.
Moreover, the CREPMF’s priority actions include the finalization of the online exchange system, the reduction of transaction costs and, a complex project linked to the sovereignty of each of the 8 UEMO states, tax harmonization.
Added to this is the protection of investors’ savings by setting up an investor protection fund and improving the regulatory framework for Islamic financial instruments.
As a reminder, the BRVM has 45 listed securities including 3 Senegalese. On its own, Sonatel accounts for 34% of the market capitalization of the market.
