The Regional Securities Exchange (BRVM) ended the week of September 28 to October 2, 2026 on a mixed note: equity market capitalisation rose to 21,529.9 billion FCFA on Thursday October 1, driven notably by a strong performance from Unilever Côte d'Ivoire (+7.37%). However, the bond segment retreated, and trading volumes remain erratic — a reflection of a regional market in search of catalysts.
A contrasted session on October 1
The BRVM Composite gained 0.12% to 549.02 points at Thursday's close. The equity market capitalisation stood at 21,529.9 billion FCFA, up 25 billion on the session. The bond segment, however, declined to 13,580.2 billion FCFA (-15.3 billion), in an interest rate environment that makes government bonds less attractive to short-term investors.
On the equities side, Unilever Côte d'Ivoire led the market with +7.37% to 51,000 FCFA, followed by BICI CI (+3.67%), Oragroup Togo (+3.45%) and NSIA Banque CI (+2.33%). On the downside, Servair Abidjan fell 7.42% and TotalEnergies Marketing CI dropped 5.94%. Daily trading volumes fell from 8.5 billion to 3.1 billion FCFA between Wednesday and Thursday — a sign of cautious market participants.
West African M&A: 55 deals in the first half of 2026
Beyond the secondary market, DealMakers AFRICA data compiled by the Financialivoire newsletter shows that West Africa recorded 55 mergers and acquisitions in the first half of 2026 — a third of the 166 transactions across Africa excluding South Africa. The total deal value in this perimeter reached $5.58 billion, down 10% year-on-year.
Private equity continues to contract: 76 operations in H1 2026, down from 136 in 2023. Investors are refocusing on asset quality and execution capability, in a high interest rate environment that complicates exits and compresses valuation multiples. Nigeria leads the regional transaction count with 39 deals during the period.
Why it matters
The BRVM remains one of the few African financial markets accessible to small regional investors. The growth in equity market capitalisation in 2026 — even against a backdrop of contracting private equity — confirms that the exchange is playing its role as a financer of the real economy in French-speaking Africa. For Indian Ocean investors looking toward the continent, the BRVM Composite's 549-point level is a key marker to watch: a sustained break above this level would signal renewed institutional confidence.
Sources: lejecos.com, Financialivoire Newsletter (DealMakers AFRICA data), October 1, 2026.