BRVM
West African Regional Stock Exchange
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Bourse Academy™
Master BRVM Investing Step by Step
Interactive lessons, quizzes, simulations, and a printable certificate for beginners.
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Modules · 12
⚠️ Bourse Academy™ is for education only. It does not provide financial, investment, tax, legal, or brokerage advice. Always verify information with official BRVM, AMF-UMOA, your SGI, and a qualified tax professional.
Glossary
BRVM
Bourse Régionale des Valeurs Mobilières — the regional stock exchange serving the UMOA zone, based in Abidjan.
UMOA
Union Monétaire Ouest-Africaine — the West African Monetary Union sharing the CFA franc (XOF), supervised by the BCEAO.
SGI
Société de Gestion et d'Intermédiation — a licensed broker/intermediary through which investors buy and sell BRVM securities.
AMF-UMOA
Autorité des Marchés Financiers de l'UMOA — the regional financial market regulator for the UMOA zone.
CREPMF
Conseil Régional de l'Épargne Publique et des Marchés Financiers — the former regional council, predecessor of AMF-UMOA.
BCEAO
Banque Centrale des États de l'Afrique de l'Ouest — the central bank issuing the XOF and supervising UMOA monetary policy.
DC/BR
Dépositaire Central / Banque de Règlement — the central depository that holds BRVM securities and settles trades.
Share
A unit of ownership in a company, also called an equity or stock.
Dividend
A portion of a company's profits paid to shareholders.
Ex-dividend date
The cutoff date: buyers on or after this day are not entitled to the upcoming dividend.
Payment date
The date a dividend is actually paid to eligible shareholders.
Market order
An order to buy or sell immediately at the best available price.
Limit order
An order to buy or sell only at a specified price or better.
Liquidity
How easily an asset can be bought or sold without moving its price.
Capital gain
The profit when you sell an asset for more than you paid.
Bond
A loan you make to an issuer (government or company) in exchange for interest and repayment.
Coupon
The fixed interest payment a bond pays, usually as a percentage of face value.
Yield
Annual return as a percentage of the price (dividend yield for stocks, coupon/yield for bonds).
Maturity
The date a bond repays its principal.
P/E ratio
Price-to-earnings ratio — share price divided by earnings per share.
Book value
Net asset value of a company on its balance sheet.
Market cap
Total market value of a company (share price × number of shares).
Custody fee
A fee charged to hold and safeguard your securities.
Educational and informational purposes only. Not financial advice.
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