(Ecofin Agency) - The Regional Council for Public Savings and Financial Markets (CREPMF), the regulator of the WAEMU regional financial market, received $ 500,000 from the Infrastructure Fund for an Emerging Africa (EAIF). According to available information, this support is expected to help the regulator implement several reforms to mobilize more resources through bond issues on the stock Exchange regional securities (BRVM), in Abidjan.
“The CREPMF is a progressive and dynamic financial regulator. It knows the importance of market reforms to stimulate regional economic development and attract both local and global investors. Efficient, well-structured, competitive and agile local capital markets are particularly attractive to infrastructure investors who seek long-term confidence in capital markets operating per the standards of global best practice,” said Roland Janssen, director of Ninety One, the investment arm of the South African banking group Investec, which is responsible for managing the EAIF.
Part of the money will facilitate the issuance of financial products targeting sustainable investments. This area has been breaking records for resource mobilization since 2012, but Africa is not very active on it.
As a reminder, EAIF has already invested in the WAEMU financial market. Last year, the Fund committed a combined $65 million to two bond issues by the Dakar Port Authority and the Senegalese incumbent telecommunications operator, Sonatel.