West Africa’s regional BRVM stock exchange is seeking to launch over-the-counter (OTC) trading of bonds by the end of the year to boost liquidity, Reuters reports. The move comes as the Abidjan-based exchange’s CFA bond market experienced weak volumes.
Though 23 issuers, ranging from Senegal’s Port of Dakar (PAD), Bank of Africa and telecom groups in Burkina Faso and Togo have listed a total 33 bonds on the BRVM, yet transactions on May 17 totaled just 540,000 CFA. The exchange was set to introduce OTC trading in the first half of this year, but that was delayed due to a post-election power issue.
Click here for the story from Reuters.