2023-09-21 19:41:23
According to the most recent data available as of September 20, 2023, the Regional Stock Exchange (BRVM) is causing a sensation on the African financial scene by overtaking the Nairobi Stock Exchange in terms of market capitalization. With a capitalization reaching 12.861 billion US dollars, the BRVM now outperforms the Kenyan Stock Exchange, whose capitalization stood at 9.773 billion dollars. This rise positions the BRVM in third place, just behind the Egyptian Exchange and its impressive $43.43 billion in market capitalization.
This recent spectacular development of the BRVM results largely from the increase in its capitalization after the entry on the scene of Orange Côte d’Ivoire in December 2022. In addition, the solid performance of the Economic and Monetary Union market West Africa (UEMOA) since the beginning of 2023 has demonstrated its resilience in the face of economic disruptions, whether internal or external.
On the other hand, the notable drop in the capitalization of the Nairobi Stock Exchange can be explained by several factors. Firstly, the depreciation of the Kenyan shilling against the US dollar, with a fall of 22.21% over a period of one year, put significant pressure on the performance of the stock market. In addition, some of the main stocks on the Nairobi Stock Exchange have recorded notable underperformance, notably Safaricom, which has seen its price fall by 36.23% since the start of the year.
Interestingly, the market capitalization of the Nairobi Stock Exchange reached approximately $16 billion as of December 31, 2022. The recent developments in these financial markets highlight the ongoing economic fluctuations on the African continent.
BRVM, as a regional trading platform based in Abidjan, Ivory Coast, continues to gain importance in the African financial scene. Its meteoric rise reflects not only the growing investor confidence in the WAEMU region, but also the BRVM’s ability to attract renowned companies, thereby strengthening its position as a leading financial hub in South Africa. West.
QA September 21, 2023
#BRVM #ahead #Nairobi #Stock #Exchange #wins