Digitization of Public Offering Operations (APE): The Central Depository/Settlement Bank (DC/BR) receives financial support from the AfDB.

The Central Depository/Settlement Bank (DC/BR) and the African Development Bank Group (AfDB) signed a grant agreement on Monday, February 28, 2022, in Abidjan.

This grant is intended to finance the digitization project of Public Offering (PO) operations on the primary market of the Regional Financial Market (RFM) of the West African Economic and Monetary Union (WAEMU).

The project aims to develop an automated solution to manage the operational processes of the subscription phase of POs, contributing to the development of the WAEMU RFM by modernizing the DC/BR infrastructure. The DC/BR is responsible for the safekeeping and circulation of dematerialized securities within this regional economic zone.This digital platform is expected to facilitate access to PO information and data for RFM stakeholders, providing them with reliable, real-time information. Additionally, it will automate the operational process of the subscription phase, ensuring real-time availability of the most accurate allocation registers and significantly reducing the immobilization period before their registration in the DC/BR’s books.

"The implementation of this digitization project for Public Offering operations on our market will facilitate investor access—especially for individuals—to our products through an automated, transparent, and secure subscription mechanism," stated Dr. Edoh Kossi AMENOUNVE, Director General of DC/BR.

He expressed his satisfaction that the Central Depository/Settlement Bank is playing a key role in this major technological advancement, which aims to accelerate the development of the WAEMU Regional Financial Market.

This financial support comes from the Capital Markets Development Trust Fund (CMDTF), a multi-donor fund administered by the African Development Bank (AfDB). On behalf of the pan-African development institution, Mrs. Marie-Laure AKIN-OLUGBADE, Director General for the West Africa Region, reaffirmed the AfDB's commitment to continuing its support for the development of the WAEMU Regional Financial Market, where it remains a key partner.

It is worth noting that the implementation of this digitization project for Public Offering (PO) operations on the primary market of the WAEMU Regional Financial Market will require an estimated financing of five hundred thousand US dollars (USD 500,000). This includes a contribution from the AfDB, through the Capital Markets Development Trust Fund (CMDTF), in the form of a grant agreement of four hundred thousand US dollars (USD 400,000), complemented by a one hundred thousand US dollar (USD 100,000) contribution from the DC/BR.

About the Central Depository/Settlement Bank (DC/BR)

The Central Depository/Settlement Bank (DC/BR) is the Central Securities Depository of WAEMU. It ensures the centralized safekeeping of securities for its members, the proper settlement and delivery of transactions following stock market operations, as well as the payment of securities-related events.

As a full member of the Association of National Numbering Agencies (ANNA), it is responsible for the coding of securities in WAEMU.

The DC/BR was established in 1996 and officially commenced operations on September 16, 1998, simultaneously with the Regional Stock Exchange (BRVM).

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