The West African Development Bank (BOAD) held its 152nd ordinary session of its Board of Directors on September 24, 2026, in Lomé, under the chairmanship of President Serge Ekué. The meeting approved a 157.5 billion FCFA envelope to finance key sectors, including energy, agriculture, infrastructure, and industry. This move aims to support the economic development of the UEMOA region. The Board reviewed the bank's performance and discussed new perspectives on these strategic sectors.
The BOAD's President, Serge Ekué, presented a report on the bank's activities, highlighting its solid financial performance and response to exogenous shocks. He emphasized the bank's role in promoting regional economic sovereignty. The bank's net result as of June 30, 2026, stood at 22.4 billion FCFA, with effective equity of nearly 1,900 billion FCFA, representing 34% of the total balance sheet. These results demonstrate the bank's financial stability and capacity to support development projects in the region.
The BOAD's strategic plan, Djoliba 2026-2030, focuses on promoting regional integration, economic sovereignty, and resilience. President Ekué stressed that the energy sector is a top priority, describing it as "the battle of battles." The bank aims to address the energy deficit and promote the interconnection of electrical networks. To achieve this, the BOAD is mobilizing resources from major financial partners, including the Italian CDP, AFD, BAD, German KfW, and the Chinese Development Bank.
In addition to its sectoral interventions, the BOAD has implemented an emergency program to respond to the effects of exogenous shocks on the living conditions of populations. The bank is also promoting digital transformation and innovation in financing, with a focus on accessing the international market. A successful example is the "Samouraï durable" bond issue, which raised over 25 billion yen to promote risk mitigation solutions in the regional ecosystem.
The BOAD has also made progress in housing finance, with its subsidiary BOAD Titrisation (formerly CRRH) showing remarkable dynamism since the change in shareholding. The entry of three new banks into its capital, its financial rating, and the successful mobilization of 100 billion FCFA demonstrate renewed confidence from the financial sector in accelerating sustainable housing financing in the Union.
President Ekué highlighted the bank's commitment to exploring opportunities for mobilizing resources from major financial partners to support the Djoliba 2026-2030 plan. Discussions are underway with several institutions to secure new funding. The BOAD's cumulative commitments now stand at nearly 11,000 billion FCFA, demonstrating its significant role in supporting regional development.
The BOAD's initiatives aim to promote sustainable development, regional integration, and economic sovereignty in the UEMOA region. With its solid financial performance and strategic focus, the bank is well-positioned to support the region's growth and development. The approved 157.5 billion FCFA envelope will contribute to the financing of key sectors, enabling the region to address its development challenges and achieve its economic potential.
Key points
- The BOAD has approved 157.5 billion FCFA to finance energy, agriculture, infrastructure, and industry in the UEMOA region.
- The bank's cumulative commitments now stand at nearly 11,000 billion FCFA.
- The BOAD's strategic plan, Djoliba 2026-2030, focuses on promoting regional integration, economic sovereignty, and resilience.
