BRVM, Africa50 Finalize Deal to Drive West Africa's Infrastructure Growth
(MENAFN) A new agreement was finalized on Tuesday between the Bourse Regionale des Valeurs Mobilieres (BRVM) and investment platform Africa50 to enhance infrastructure financing across West Africa.
This collaboration will harness capital markets to issue project bonds aimed at infrastructure development in the West African Economic and Monetary Union (WAEMU) countries, which include Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo.
The initiative will open opportunities for local and regional pension funds, institutional investors, and private stakeholders to directly engage in infrastructure projects, driving growth and development in the region.
The partnership will also broaden access to financing for infrastructure developers, promoting the creation of bankable projects and encouraging more regional investment.
"Africa's infrastructure needs cannot be met by capital alone; they require innovation, trusted institutions and execution guided by Africans," emphasized Alain Ebobisse, CEO of Africa50, during the signing event.
Echoing this sentiment, Edoh Kossi Amenounve, CEO of BRVM, remarked, "The time has come for African capital markets to play a decisive role in financing the continent's infrastructure transformation."
BRVM, headquartered in Côte d'Ivoire, serves as a regional stock exchange for West African nations, while Africa50, a platform founded by African governments and the African Development Bank, aims to unlock funding for vital infrastructure projects across the continent.
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