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BRVM · Ivory Coast (BRVM)

Best Stockbrokers in Ivory Coast (BRVM)

The BRVM is the unified regional stock exchange of the West African Economic and Monetary Union (UEMOA): Côte d'Ivoire, Senegal, Burkina Faso, Mali, Niger, Togo, Benin, and Guinea-Bissau. All trades settle in CFA francs (XOF) — pegged to the euro, which removes one layer of currency volatility for European investors. Brokerage is provided exclusively by SGIs (Sociétés de Gestion et d'Intermédiation), mostly headquartered in Abidjan and Dakar.

Regulator: Conseil Régional de l'Épargne Publique et des Marchés Financiers (CREPMF)
Depository: Dépositaire Central / Banque de Règlement (DC/BR)

7 regulated brokers covering BRVM

Every broker listed below is licensed by Conseil Régional de l'Épargne Publique et des Marchés Financiers (CREPMF). We do not rank them — order is informational only. Always verify current licensing on the regulator's website before opening an account.

Hudson & Cie

Traditional Broker

Abidjan-based SGI offering BRVM equities, fixed income, and corporate finance. Established institutional franchise across UEMOA.

Best for:
Institutional investors and larger portfolios across UEMOA
Mobile app:
No
Access:
Foreign investors welcome
Visit Hudson & Cie →

BICI Bourse

Bank-Affiliated

SGI subsidiary of BNP Paribas's Côte d'Ivoire affiliate BICICI. European-bank standards on UEMOA equities and bonds.

Best for:
BICICI clients and European/French diaspora investors
Mobile app:
No
Access:
Foreign investors welcome
Visit BICI Bourse →

EDC Investment Corporation

Bank-Affiliated

Brokerage subsidiary of Ecobank — the largest pan-African banking group. BRVM access plus regional banking infrastructure across all 8 UEMOA countries.

Best for:
Pan-African investors and existing Ecobank clients
Mobile app:
No
Access:
Foreign investors welcome
Visit EDC Investment Corporation →

Atlantique Finance

Bank-Affiliated

SGI of Groupe Banque Atlantique (part of Banque Centrale Populaire of Morocco). BRVM equities, fixed income, and corporate advisory.

Best for:
Mid-tier investors with West African banking relationships
Mobile app:
No
Access:
Foreign investors welcome
Visit Atlantique Finance →

NSIA Finance

Bank-Affiliated

Brokerage arm of NSIA Group — a major UEMOA insurance and banking conglomerate. BRVM brokerage, asset management, and advisory.

Best for:
NSIA clients and Ivorian institutional accounts
Mobile app:
No
Access:
Foreign investors welcome
Visit NSIA Finance →

BOA Capital Securities

Bank-Affiliated

SGI subsidiary of Bank of Africa Group's regional operations. BRVM equities and bonds with pan-African banking support.

Best for:
Bank of Africa clients across UEMOA
Mobile app:
No
Access:
Foreign investors welcome
Visit BOA Capital Securities →

Phoenix Capital Management

Traditional Broker

Independent Abidjan-based SGI with full BRVM equities, fixed income, and corporate finance services.

Best for:
Investors wanting an independent (non-bank) regional broker
Mobile app:
No
Access:
Foreign investors welcome
Visit Phoenix Capital Management →

How to open an account on the BRVM

  1. 1

    Choose an SGI

    SGIs (Sociétés de Gestion et d'Intermédiation) are the only entities licensed to trade on the BRVM. Most are headquartered in Abidjan or Dakar but accept clients from any of the 8 UEMOA member states and internationally.

  2. 2

    Open a CFA franc account

    BRVM trades settle exclusively in XOF (CFA francs). Most SGIs help non-resident clients open a CFA account with a partner bank in Côte d'Ivoire, Senegal, or one of the other UEMOA states.

  3. 3

    Submit foreign investor declaration

    Non-UEMOA residents declare their status at account opening. CREPMF maintains the regulatory register for the regional market.

  4. 4

    Fund via SWIFT

    Wire EUR or USD via SWIFT to your CFA account; conversion occurs at the bank's posted rate. The euro peg makes EUR funding particularly efficient.

KYC documents you'll need

  • Valid passport (or UEMOA national ID for regional residents)
  • Proof of address (utility bill or bank statement)
  • UEMOA bank account in CFA francs
  • Source-of-funds declaration
  • Foreign-investor declaration for non-UEMOA residents

Fees and tax

Dividend withholding tax10% – 15% (varies by issuer country)
Capital gains taxVaries by issuer country
Typical brokerage commission1.0% – 2.0%
BRVM / DC-BR regulatory feesCombined ~0.3%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Which countries does the BRVM cover?

Eight UEMOA member states: Côte d'Ivoire, Senegal, Burkina Faso, Mali, Niger, Togo, Benin, and Guinea-Bissau. Companies from any of these countries can list on the BRVM, and one SGI account gives you access to all of them.

What currency are BRVM trades in?

CFA francs (XOF). The XOF is pegged to the euro at a fixed rate (1 EUR = 655.957 XOF), which removes most currency volatility for European-based investors.

Why does BRVM tax differ by company?

Each listed company is domiciled in one of the 8 UEMOA states, each with its own tax code. Dividend withholding and capital-gains treatment therefore varies by the issuer's country of incorporation, not by the exchange. Your SGI can confirm the rate that applies to each specific stock.

Can I open a BRVM account from outside West Africa?

Yes. Most major SGIs (Hudson & Cie, EDC Investment, BICI Bourse, Atlantique Finance) accept non-resident foreign investors and handle CFA bank account opening as part of onboarding.

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