An agreement was signed on Tuesday between stock exchange Bourse Regionale des Valeurs Mobilieres (BRVM) and investment platform Africa50 to facilitate infrastructure financing in West Africa.
The partnership, which leverages capital markets, will launch project bonds focusing on infrastructure construction in the member countries of the West African Economic and Monetary Union — Benin, Burkina Faso, Guinea-Bissau, Cote d’Ivoire, Mali, Niger, Senegal and Togo.
It will enable local and regional pension funds, institutional investors and private investors to participate directly in infrastructure development.
The initiative will also expand access to funding for infrastructure developers and support the development of bankable projects across the region, encouraging regional investments.
“Africa’s infrastructure needs cannot be met by capital alone; they require innovation, trusted institutions and execution guided by Africans,” said Alain Ebobisse, CEO of Africa50, during the signing ceremony.
Edoh Kossi Amenounve, CEO of BRVM, said that “the time has come for African capital markets to play a decisive role in financing the continent’s infrastructure transformation.”
With headquarters in Cote d’Ivoire, BRVM is a regional stock exchange serving countries in West Africa. Africa50 is an investment platform established by African governments and the African Development Bank. Enditem
Source: Xinhua
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