Abidjan: The APSGI Meetings!
The creation of a Regional Financial Market (RFM) was outlined in the revised Treaty of November 14, 1973, establishing the West African Economic and Monetary Union (WAEMU), which includes eight (8) countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
The main objectives of this market are to:
- Diversify the financial sector,
- Mobilize long-term resources necessary for financing production and investment,
- And foster regional integration.
Twenty-six (26) years after the first transactions began, the RFM has raised over 17,951 billion CFA francs through bond issues and public equity offers (as of December 31, 2022). Despite these achievements, major challenges remain:
- Limited diversification compared to the size of WAEMU’s economies,
- Low popular shareholder participation and underdeveloped stock market culture,
- Limited tradable instruments,
- Low public awareness (fewer than 200,000 active securities accounts).
To address these challenges, it is essential to:
- Expand the range of tradable instruments,
- Increase individual participation through greater financial inclusion,
- Develop all potential sources to support the listing of the BRVM.
The Event: “Les Rendez-Vous de l’APSGI!”
In response to this context, the Professional Association of Brokerage Firms in WAEMU (APSGI-UEMOA) proposes to organize a promotional event for the Regional Financial Market, titled: “Les Rendez-Vous de l’APSGI!”
Dates: December 12-13, 2024
Location: CGECI Plateau, Abidjan, Côte d’Ivoire
Theme: “With the Stock Exchange, Invest Today for a Better Tomorrow”
Objectives of the Event
The objectives of the event are to:
- Raise awareness among economic actors, national and international investors, and the general public about the opportunities within the WAEMU Regional Financial Market.
- Strengthen the visibility of APSGI-UEMOA, confirming its role as a key player in the regional financial sector.
- Promote exchanges, partnerships, and investments.
Event Program
The second edition of this event will be held under the theme:
“Significant Contributions of the Regional Financial Market to the Development of WAEMU: What Deep Transformations and Structuring Innovations Can Be Implemented?”
Given its regional nature, the event will be organized in two parts:
1. A decentralized forum: This will take place over a 3-week period across all WAEMU countries, except Guinea-Bissau, featuring:
- Local RFM fairs, showcasing local SGIs and available financial opportunities.
2. A main forum: To be held in Abidjan, which will include:
- Plenary conferences led by regional and international experts, covering topics such as regional integration, financial innovation, and investment opportunities.
- Thematic workshops, targeted at businesses, SMEs, investors, the diaspora, and individuals interested in investing in the region.
2 – Expected results
At the end of this event, the following results are expected:
- Increase the local and regional reach of this event, positioning it as an essential meeting point for savings solutions.
- Strengthen APSGI’s position as a major player in the regional financial ecosystem.
- Facilitate B-to-B and B-to-C meetings, to stimulate exchanges and investments.
- Make the event attractive to a diverse audience, from professionals to individuals.
Organizer
Founded on December 3, 1998, the Professional Association of Brokerage Firms in the WAEMU (APSGI-UEMOA) serves as the representative body for Brokerage Firms (SGI) operating in the eight (8) member countries of the West African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. Currently, the association comprises 35 SGIs and plays a key role in promoting and developing the Regional Financial Market (RFM).
SGIs: Description and Role
Brokerage Firms (SGIs) are specialized financial institutions that are explicitly excluded from traditional banking regulations.
- They are structured as joint-stock companies with a minimum capital requirement of 1 billion CFA francs.
- Their primary mission is to facilitate access to financial markets by managing portfolios and conducting market transactions.
Distribution of SGIs by country:
- Côte d’Ivoire: 16 SGIs
- Senegal: 6 SGIs
- Benin: 5 SGIs
- Mali: 3 SGIs
- Burkina Faso: 3 SGIs
- Niger: 1 SGI
- Togo: 1 SGI
- Guinea-Bissau: No SGI currently.
The Regional Financial Market (RFM)
The Regional Financial Market (RFM) is an integrated platform within WAEMU, aimed at:
- Mobilizing savings from domestic and international sources to finance local economies.
- Diversifying the financial sector through instruments such as bond issues and equity offerings.
Since its inception in 1996, the RFM has raised significant funds but faces challenges such as limited financial inclusion, a lack of instrument diversification, and low public awareness.
APSGI’s Governance Structure
To fulfill its missions, APSGI relies on several governance bodies:
- The General Assembly: The supreme decision-making body, comprising all members, which deliberates on the association’s strategic directions.
- The Executive Committee: Composed of 6 elected members, it oversees operational and strategic activities.
APSGI’s Missions
The primary mission of APSGI is to contribute to the emergence of an efficient regional financial market by:
- Raising awareness among economic players about investment opportunities.
- Promoting regional integration through partnerships.
- Encouraging financial innovation and broadening investor participation, including individual investors.
History and Key Projects
Since its creation, APSGI has worked on several major projects to:
- Improve the liquidity of the RFM,
- Enhance the visibility of SGIs,
- And diversify the range of financial instruments available.
