(Ecofin Agency) – The Regional Stock Exchange (BRVM), the financial market common to the member countries of the WAEMU, hopes to welcome 16 new companies to its list by 2020, according to Bloomberg, which quotes Edoh Kossi Amenounve (photo), the director general of this institution.
This trend is expected to be supported by economic growth in the sub-region, which is increasing the need for business financing. Investors are anticipating the arrival of NSIA Bank this year, 2017, which was already announced in 2016.
The BRVM (Regional Stock Exchange) also states that it is in discussions with other state-owned banks, following the successful listing of Société Ivoirienne de Banque (Attijariwafa Côte d'Ivoire) and the strong interest in Coris Bank International shares.
The Ivorian government officially announced on Wednesday its decision to privatize its 10% stake in NSIA Bank. This involves 2 million shares that will be sold to "public entities and the general public, via the Regional Stock Exchange (BRVM)" at a price of 9,000 CFA francs per share.
The decree issued by the Council of Ministers does not, however, specify the distribution of shares between the two categories of shareholders. Last June, the government expressed its intention to reserve 5% of these shares for the Coffee and Cocoa Council.
This privatization will thus mark NSIA Bank's entry into the sub-regional financial market. The subscription period is yet to be determined, but there is no doubt that the operation should be very well received, as the market has shown a strong appetite for the banking sector, as evidenced by the recent successes of Coris Bank and SIB. And NSIA Bank has many strengths to navigate this new phase of its development.
