In a major step toward modernizing West Africa’s capital markets, the Central Depository/Settlement Bank (DC/BR) has launched DIGIAPE, a digital platform designed to centralize and automate subscriptions for public offerings across the West African Monetary Union (UMOA).
Backed by a $400,000 grant from the African Development Bank (AfDB), the platform is expected to boost transparency, reduce settlement times, and position the region as a more competitive destination for investors. The funding comes via the Bank’s Capital Markets Development Trust Fund (CMDTF), and supports platform design, staff training, and wider accessibility for market stakeholders.
“Technological innovation is now a powerful lever for transforming capital markets,” said Birahim Diouf, Director General of DC/BR. “In a constantly changing environment, the Central Depository/Settlement Bank, like other central securities depositories, must embrace this dynamic in order to meet the growing demand for security, efficiency, transparency, and inclusion.”
DIGIAPE aims to provide real-time allocation at the close of trading, enhance investor confidence, and streamline primary market operations—factors that could encourage more sovereign issuers and international investors to participate in UMOA markets.
“DIGIAPE is a digital platform designed to automate and secure the entire subscription process for public offerings on the primary market,” Diouf added. “It is a concrete response to current challenges, particularly in terms of financial inclusion, the digitization of financial services, and the transparency of the regional financial market.”
Speaking at the launch event in Abidjan, which drew financial institutions and UMOA regulators, Ibrahim Kalil Konaté, Côte d’Ivoire’s Minister for Digital Transition and Digitization, emphasized the role of digital infrastructure in building more resilient financial systems.
AfDB officials also underscored the platform’s strategic importance. “The African Development Bank is a key strategic partner in the development of the regional financial market – as evidenced by our having committed more than two billion euros to the financial sector in the West African Economic and Monetary Union (UEMOA) zone, through our various instruments, since 2014,” said Ahmed Attout, Director for Financial Sector Development at the AfDB.
Akane Zoukpo Sanankoua, Manager of the Bank’s Capital Markets Development Division, noted the continuity in support: “Our intervention is a continuation of the Bank’s support for players in the West African Monetary Union regional financial market, which began in 2018. Support for the establishment of the DIGIAPE platform once again demonstrates the ability of the Capital Markets Development Trust Fund to respond concretely and strategically to the needs of Africa’s changing markets.”
The CMDTF, established in 2019, aims to enhance the integration and competitiveness of Africa’s capital markets. It is supported by the Luxembourg Ministry of Finance, the Dutch Ministry of Foreign Affairs, and the Swedish International Development Cooperation Agency (SIDA).
Headquartered in Abidjan, the Central Depository/Settlement Bank plays a vital role in UMOA’s financial ecosystem, managing securities custody, settlement, and payments related to stock exchange transactions. With the launch of DIGIAPE, DC/BR moves a step closer to creating a more inclusive and future-ready capital market in the region.
