Cotonou 2026: how local savings could rewrite West Africa’s financial independence
As West African economies struggle to fund development while reducing their reliance on foreign capital, the push to mobilise regional resources has become a strategic priority. At the second edition of the Regional Shareholding Forum, held in Cotonou on 17-18 September 2026, institutional players, business leaders and market specialists called for a deep shift in investment habits across the West African Economic and Monetary Union (UEMOA). The event’s theme, ‘Shareholding and financial sovereignty: mobilising savings to accelerate economic transformation’, set the stage for two days of debate that ended with a clear message: the region must learn to finance itself.
Public debate intensifies over dormant capital
The forum, co-organised by UCA SGI and Dimensions GROUP, exposed a stubborn paradox. Even as UEMOA economies grow at a healthy pace, regional financial markets are still failing to fully capture domestic savings. Much of that money sits idle in bank accounts or is parked in ultra-short-term products, never reaching the productive sectors that need it most. For the organisers and regulators, turning this dormant capital into equity financing for small businesses and large local groups is no longer optional — it is a condition for sustainable growth.
Three fronts in the battle to democratise share ownership
Discussions at the Cotonou forum revolved around concrete ways to bring ordinary citizens closer to the financial markets. Participants identified three main priorities:
- Opening up capital markets: making it easier for local companies to list on the Regional Stock Exchange (BRVM) and injecting new momentum into the bourse.
- Inclusion and digital innovation: using mobile and digital tools to connect the general public with investment opportunities, while stepping up financial literacy campaigns.
- Regulation and public policy: adjusting tax and legal frameworks so that savings are steered towards long-term financing of infrastructure and the private sector.
Central bank and regulators frame the stakes
Representatives of the Central Bank of West African States (BCEAO), the UEMOA Commission and the regional financial markets authority stressed that this is a structural challenge, not a short-term fix. By making local economies less dependent on external financing, governments and companies in the sub-region would strengthen their resilience to external shocks and the volatility of international markets. The message was clear: financial sovereignty begins at home, with the savings of ordinary citizens.
What happens next after Cotonou
As the forum closed on Friday in Cotonou, participants agreed on the urgent need to encourage every citizen to become a direct player in regional economic growth through shared investment. The next step will be to translate the discussions into action — pushing for regulatory reforms, expanding financial education and building digital platforms that make investing accessible to all. The fallout from this second edition is likely to shape policy debates across UEMOA in the months ahead, as stakeholders wait to see whether words turn into lasting change.