Brokers & FinTech
West Africa: Regional Stock Exchange’s ELITE Program Drives Innovation To Dozens Of Selected SMEs
14 Nov 2019
The latest additions raise the number of companies benefiting from the ELITE BRVM LOUNGE program to a total of 30
Regional Stock Exchange BRVM’s ELITE LOUNGE program has now 30 companies adhered to it, which are enjoying the program’s multiple benefits such as better access to capital markets and governance aligned with modern business practices. The program is targeting SMEs located throughout West Africa.
The latest announcement, which added 10 new companies, was done in Abidjan (Ivory Coast) last June. In there, the Third Business Cohort of the ELITE BRVM LOUNGE Program was presented by the chairman Mr. Souleymane Diarrassouba, Minister of Commerce, Industry and Promotion of SMEs in Ivory Coast.
As it is common practice, the new additions were selected following a rigorous selection process and from different countries in the region. The companies selected are: BBS FIRST SECURITY (Burkina Faso), BANIBAH (Ivory Coast), GAS & OIL (Ivory Coast), GEBAT (Ivory Coast), SIAG ( Côte d’Ivoire), GAMMA INFORMATIQUE (Niger), ITECH SOLUTIONS (Senegal), Laiterie du Berger (Senegal), MINEEX (Senegal) and NUHMERIT (Senegal). These companies come from various sectors of activity such as security, construction, distribution, printing, Information Technology and Communication, industry and mining.
The ELITE Program is a dynamic and interactive ecosystem, built to support and foster innovation, entrepreneurship and growth. Through this program, the BRVM intends to contribute in strengthening the capacities of companies with high growth potential in the sub-region and offering them a new source of financing through the WAEMU regional financial market.
Dr Edoh Kossi Amenounve, Managing Director of the BRVM, said recently: “By 2020, the ambition of the BRVM is to increase the number of companies in our Union to more than 50 to benefit from the ELITE excellence program. BRVM Lounge aims to progressively supplying the Third Sub-Fund of the BRVM.” Before launching an appeal to the UEMOA SMEs to get closer to the BRVM through its National Stock Exchange Offices for more details on the ELITE Program.
The ELITE BRVM LOUNGE program entered its active phase in the West African Economic and Monetary Union (WAEMU) with the presentation of the First Cohort of Companies on March 19, 2018. Its mission is to foster growth and innovation in SMEs in the area with high potential in order to offer them a new source of financing on the regional financial market of UEMOA.
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