Is West Africa ready to stop relying on outside capital and start funding its own future? That is the uncomfortable question hanging over the 2nd edition of the Regional Shareholding Forum, held in Cotonou from 17 to 18 September 2026. Institutional players, business leaders and market experts gathered to confront a stubborn reality: despite dynamic growth across the West African Economic and Monetary Union (UEMOA), the region’s financial markets are still not fully capturing domestic savings.
Why the financing dilemma demands a fresh strategy
Faced with mounting development financing needs and the imperative to cut dependence on external capital, mobilising sub-regional resources has become a strategic priority. Under the theme “Shareholding and financial sovereignty: mobilising savings to accelerate economic transformation”, the forum — co-organised by UCA SGI and Dimensions GROUP — highlighted a persistent paradox: growth is there, but local savings are not being converted into productive investment.
For the organisers and regulators, the message is blunt: strengthening popular shareholding is a decisive lever. Turning savings that often sit idle or chase very short-term returns into productive capital would give SMEs and large local firms the equity they need to expand.
Three pillars to turn savers into shareholders
The forum’s discussions revolved around several major axes:
- Access to capital markets: Making it easier for local companies to list and boosting activity on the Regional Stock Exchange (BRVM).
- Inclusion and innovation: Using digital tools to bring investment opportunities closer to the general public and to promote financial education.
- Regulatory framework and public policy: Adapting tax and legal arrangements so that savings are steered towards financing infrastructure and the private sector over the long term.
The stakes: financial sovereignty or continued vulnerability
Representatives of the Central Bank of West African States (BCEAO), the UEMOA Commission and the Financial Markets Authority stressed the structural nature of this effort. By making the financing of local economies more autonomous, states and businesses in the sub-region strengthen their resilience against external shocks and the volatility of international markets.
As the forum wrapped up on Friday in Cotonou, participants agreed on one urgent point: every citizen should be encouraged to become a direct player in regional economic growth through shared investment. The question now is whether that call will translate into action — or remain another missed opportunity.
