Strengthening Cooperation: The UEMOA Central Depository/Settlement Bank and the Ghana Central Securities Depository Sign a Partnership Agreement

The announcement was made during a signing ceremony between the Managing Director of DC/BR, Birahim DIOUF, and his counterpart from Ghana’s CSD, Michael MENSAH. 

Abidjan, Côte d'Ivoire, December 16, 2022 / APO Group /– The Central Depository/Settlement Bank of the WAEMU (DC/BR) ([www.BRVM.org](http://www.BRVM.org)) and the Central Securities Depository (GH) LTD are pleased to announce the signing of a partnership agreement on Friday, December 9, 2022. This agreement aims to strengthen cooperation in the financial markets of Ghana and the West African Economic and Monetary Union (WAEMU) countries.  

The announcement was made during a signing ceremony between the Managing Director of DC/BR, Birahim DIOUF, and his counterpart from Ghana’s CSD, Michael MENSAH.  

The agreement establishes a common framework to launch joint initiatives in their respective markets. As part of this agreement, DC/BR and Ghana’s CSD have committed to organizing regular meetings among senior executives to enhance mutual understanding between the two organizations. The memorandum of understanding also provides a platform for sharing best practices among central depositories in terms of development, operational models, and service improvement opportunities.  

The partnership agreement also covers the following areas, aimed at promoting and strengthening cooperation and integration:  

• Post-trade activities and services, particularly within the framework of the West African capital markets integration project;  
• The production of joint research documents and knowledge products on topics related to central depository operations;  
• Staff training to deepen the understanding of their respective securities markets;  
• Joint meetings on topics of common interest.  

“The memorandum of understanding with Ghana’s central depository creates opportunities for information exchange on matters of mutual interest. I am convinced that this agreement will benefit not only our institutions but also our clients and respective markets. I am delighted and excited about the journey ahead and what we can accomplish together,” said Birahim DIOUF, Managing Director of DC/BR.  

For his part, Michael MENSAH, Managing Director of the Central Securities Depository (GH) LTD, stated that the memorandum of understanding with DC/BR marks the consolidation of a true partnership. “The timing of this memorandum of understanding is perfect, and there is no doubt that the future looks promising for both institutions. This collaboration between our two institutions will significantly facilitate the integration of ECOWAS capital markets. We look forward to the successful implementation of this memorandum of understanding for the mutual benefit of both parties.” 

Distributed by APO Group on behalf of the Central Depository/Settlement Bank (DC/BR).

DC/BR WAEMU Contact:
Guimba Sylla
Director of OPS  
Email: gsylla@dcbruemoa.org  
+225 2720326685  

CSD (GH) Contact: 
Faustina Coleman-Forson
Head of OPS  
Email: faustina.coleman@csd.com.gh  
+233 302689313-4  

About DC/BR: 
Operational since 1998, the Central Depository/Settlement Bank (DC/BR) is one of the two central structures of the WAEMU Regional Financial Market (along with BRVM). It is the sole depository for the eight WAEMU countries and has been a full member of the International Association of National Numbering Agencies (ANNA) and the Association of Central Securities Depositories of Africa and the Middle East (AMEDA) since 2013.  

Its mission is summarized in four key points: ensuring the safekeeping and circulation of securities, handling the settlement of BRVM transactions, ensuring the payment of corporate actions (interest and dividends) recorded in its books, and managing the Market Guarantee Fund to ensure the proper completion of operations. Mr. Birahim DIOUF is the Managing Director.