What will drive positive sentiments in BRVM?

The BRVM stock exchange faced negative sentiments in January as investors engaged in bargain-hunting activities. Benjamin Boachie, Chief Economist at Second Stats, recently appeared on CNBC Africa to explore the catalysts necessary to propel the market forward in February. Boachie expressed optimism about the market's attractiveness due to the rally in commodities that spanned the end of last year and continued into the new year. He cautioned against increasing exposure to countries that have exited certain agreements but highlighted the potential of the BRVM market. Boachie discussed the impact of geopolitical risks on investments in various countries and emphasized the significance of monitoring exposure to such risks. Despite these challenges, he maintained a positive outlook on African markets, particularly noting the positive developments resulting from the African Continental Free Trade Area (AFTA) integration. The recent announcement of South Africa's tariff-free trade activities further solidified the potential for growth and cooperation among African nations. Boachie also mentioned the strong performance of economies like Ghana and Nigeria in the region, indicating a promising outlook for 2024. The interview touched on the importance of leveraging partnerships in the public sector, with Boachie highlighting Second Stats' collaboration with BRVM that aims to integrate the latter's equities onto the platform. The partnership with the African Stock Exchanges Association (ASEA) signifies a broader initiative to unify African capital markets and provide investors with seamless access to diverse opportunities. Boachie revealed that Second Stats plans to bring BRVM equities onto the platform by the second or third quarter, marking a significant step towards achieving their goal of encompassing a substantial portion of African capital markets. Looking ahead, Boachie emphasized the continued expansion of partnerships beyond BRVM, with a vision to encompass a significant percentage of African capital markets on Second Stats by the end of the year. The collaboration with ASEA and other exchanges underscores the commitment to offer a comprehensive investment platform that facilitates market participation and growth. The strategic alliances and integrations discussed in the interview underscore the potential for enhanced market sentiment and increased investment opportunities within the BRVM and broader African markets.