The Chairman of the Board and the Director General of the DC/BR received by the President of the Council of Ministers of WAEMU and Minister of Finance and Budget of Côte d’Ivoire

Abidjan, March 6, 2024– The Chairman of the Board of Directors of the Central Depository/Settlement Bank (DC/BR), Mr. Faman Touré, and the Director General of DC/BR, Mr. Birahim Diouf, were received on Wednesday, March 6, 2024, in Abidjan by the Chairman of the Council of Ministers of the West African Economic and Monetary Union (WAEMU), Mr. Adama Coulibaly. 

Despite a busy schedule, the Chairman of the WAEMU Council of Ministers granted an audience to the DC/BR delegation, underscoring his commitment to the development and proper functioning of the central structures of the regional financial market. 

It is worth recalling that the current Minister of Finance and Budget of Côte d'Ivoire was appointed by his peers in December 2022 to chair the WAEMU Council of Ministers. 

During this meeting, the Chairman of the WAEMU Council of Ministers welcomed the achievement of DC/BR’s autonomy. 

He further recalled that the 2016 reform, which initiated the process of DC/BR’s autonomy, was designed to enable each specialized financial institution to fully play its role within the Union’s financial ecosystem. 

In this regard, Minister Adama Coulibaly provided guidance to the Chairman of the Board of Directors and the Director General to ensure the successful fulfillment of their missions at the helm of this key regional financial market institution. 

Prior to this, Mr. Faman Touré reviewed the various stages of the autonomy process, which led to the establishment of independent management for DC/BR. 

The Chairman of the Board of Directors of DC/BR commended the continuous efforts and visionary leadership of the Ivorian Minister in supporting the structural and inclusive transformation of the Union’s economies. 

For his part, the Director General presented the 2021-2025 Business Plan of DC/BR, which serves as the strategic roadmap for this WAEMU community institution. He also reviewed DC/BR’s 2023 financial performance and highlighted its short-, medium-, and long-term prospects. 

According to the report, the centralized custody of securities at DC/BR reached 19,140 billion CFA francs in 2023, compared to 17,861 billion CFA francs in 2022, representing a 7.16% increase. 

Additionally, DC/BR distributed a total of 1,929 billion CFA francs in 2023, compared to 1,497 billion CFA francs in 2022, for the payment of dividends, interest, and bond principal repayments, reflecting a 28.83% increase. 

Regarding future prospects, Mr. Faman Touré mentioned DC/BR’s structural projects and the management of public service concession challenges benefiting DC/BR. 

ABOUT DC/BR 

The DC/BR is a specialized financial institution of WAEMU, headquartered in Abidjan, Republic of Côte d'Ivoire. 

It is responsible for centralizing the custody of securities for its members, ensuring the successful settlement and delivery of transactions following stock market trades, and processing corporate actions. 

As a full member of the Association of National Numbering Agencies (ANNA), it oversees the securities coding process within WAEMU.

DC/BR was established in 1996 and officially began operations on September 16, 1998.