The place of Ivorian companies on the Regional Stock Exchange (BRVM) is due in particular to the privatization programs undertaken at the end of the 1990s. And the current transfer process could well strengthen this hegemony of Côte d'Ivoire on the Stock Exchange. common to the eight countries of Uemoa. Can the Union resist it? "Ivorian domination is historic," replies Georgine Codo, boss of BNI Finances. It is partly explained by the fact that the BRVM was created in an uncertain context marked by the wave of privatizations. One of the arguments was that states could privatize through the financial market because of transparency. But the mayonnaise didn't take. In the end, it was the arrival of Sonatel (established in Dakar) on the Abidjan stock market that saved the day, then, a few years later, the introduction, among others, of Onatel, then fallen into the bosom of Maroc Telecom and Bank of Africa. With three listed companies, Burkina has risen to the same level as Senegal. “A good part of the stock market is pulled by the bond loans of the States”, regrets a leader of an intermediation company. For him, this observation of failure is partly explained by the adoption of banks which offer companies financing at rates deemed to be competitive. The latter therefore no longer perceive the usefulness of resorting to the regional market.