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Uemoa financial market: AfDB invests 232.2 million CFA francs to digitize public calls for savings

22/12/2021
Categories: Index/Markets

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The African Development Bank (AfDB) is committed to supporting the modernization of the financial market operations of the West African Economic and Monetary Union (UEMOA). Thus, the Pan-African bank announced, following its last Board of Directors, financing of $400,000, or 232.2 million CFA francs to digitize public calls for savings.

The Abidjan-based institution will support the digitization of the financial market in the Uemoa space through the establishment of an automated management platform for public calls for savings. The new financing of 232 million FCFA was released in favor of the central depositary / Settlement Bank (DC / BR) of the regional financial market of the West African Monetary Union (WAMU), which ensures the codification of securities on the market in WAEMU. According to the Pan-African institution, this donation from the Capital Markets Development Trust Fund, a multi-carrier fund administered by the AfDB, "will enable the creation and operationalization of a digital platform to automate the management of public calls for savings for the regional financial market".

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