Sonatel (telecom) remains the value that focuses the most transactions on the BRVM in 2017.
The title of the leading operator in Senegal has drained 97,8 billions of FCFA (173 million dollars) on a total volume of 267,5 billion FCFA (473,4 million dollars) recorded by the equity compartment of the UEMOA square in 2017 according to a study of Boa Capital Securities.
Behind, Coris Bank International BF, coming on the market early 2017, comes with 13,7 billion FCFA (24,2 million). Another new introduction to emerge in this ranking, Ecobank Ivory Coast, which was the subject of a transaction volume 10,3 billion FCFA, is better than the SGB CI (10,2 billion FCFA), the Onatel BF (9,9 billion FCFA), SIB CI (9,2 billion FCFA), BICI CI (9 billion FCFA), NSIA Bank CI (5,6 billion FCFA), BOA Benin (5,5 billion FCFA) and BOA BF (4,9 billion FCFA).
In terms of performance, Ecobank Ivory Coast achieved the strongest increase of the year with a jump of 48%, followed by CFAO CI (27,42%), SOGB CI (27,27%), Coris Bank International BF (16,14 %) and Saph CI (10, 54%).
In terms of the decline, BOA Mali ranks first with a negative performance of -80,5% which is reminiscent of the information and market noise (never confirmed, never denied) that hovered over this subsidiary. Other sharp declines over the year 2017, those of Vivo Energy Ci (-70%), Sucrivoire CI (-69,4%), Nei Ceda CI (-69,17%), and Sicor Ci (-64, 41%) . The lack of timely financial communications as well as the obligation of profit warnings leave a lot of unverified and sometimes unverifiable information on the reasons for certain decreases.
Analysts at BOA Capital remain optimistic for the 2018 year basing their projections on the economic outlook and various decisions made by market authorities. For example, the multiplication of the number of commercial stakeholders with 9 approvals granted by the Regional Council during the 2017 year, including 4 to mutual funds, 2 to Management and Intermediation Companies and 3 Management Companies UCITS.
Another decision to be welcomed, the strengthening of liquidity in the market by the revival of public offers including sale 2017 late establishment of the compartment of SMEs, knowing that a dozen operations concerning them would be in the pipe for the years to come. To this, it will be necessary to add the increase in securities outstanding on the market following the application of Instruction No. 01-2017 which requires a minimum volume of securities to be floated by listed companies.
“Based on our forecast of our scope of 23 values -representing 77% of the market’s overall market cap-, earnings potential should be up by 12,3% in 2018. The Finance sector should record the strongest growth with growth expected to reach nearly 14%, “the report said.