When West African households keep their money in short-term deposits or idle cash, the region’s businesses feel the pinch first. That reality was front and centre in Cotonou, Benin, on 17–18 September 2026, where the second edition of the Regional Shareholding Forum brought together institutional players, company leaders and market specialists. Their message was blunt: without a deep shift in how people across the West African Economic and Monetary Union (UEMOA) save and invest, local firms will keep struggling to raise the capital they need to grow — and citizens will keep missing out on the returns that come from owning a piece of that growth.

A paradox that hits home for savers and small businesses

The forum, co-organised by UCA SGI and Dimensions GROUP, ran under the theme “Shareholding and financial sovereignty: mobilising savings to accelerate economic transformation”. It exposed a stubborn contradiction: UEMOA economies are expanding, yet regional financial markets still fail to fully capture domestic savings. For a shop owner in Abidjan or a tech startup in Dakar, that means fewer local funding options and a heavier reliance on foreign capital that can vanish when global conditions tighten.

From dormant deposits to productive capital

Organisers and regulators were clear that broadening popular shareholding is a decisive lever. Turning savings that often sit idle — or are parked in ultra-short-term placements — into productive capital would give small and medium-sized enterprises and larger local groups the equity they need to expand. The consequences are tangible: more jobs, stronger supply chains and a private sector less exposed to external shocks.

Three priorities that could change the picture

• Access to capital markets: Making it easier for local companies to list and invigorating the Regional Stock Exchange (BRVM) so that ordinary savers can buy shares without prohibitive barriers.
• Inclusion and innovation: Using digital tools to bring investment opportunities closer to the general public and pushing financial education so that first-time investors understand the risks and rewards.
• Regulation and public policy: Adjusting tax and legal frameworks to steer savings towards infrastructure and private-sector financing over the long term.

Why this is a strategic sovereignty issue

Representatives from the Central Bank of West African States (BCEAO), the UEMOA Commission and the Financial Markets Authority stressed the structural nature of this shift. By making local economies less dependent on outside financing, states and companies in the sub-region strengthen their resilience against external shocks and the volatility of international markets. For citizens, that translates into more stable prices, better public services and a financial system that answers to local needs rather than distant creditors.

What happens next for households and businesses

As the Cotonou talks wrapped up on Friday, participants agreed on one urgent point: every citizen should be encouraged to become a direct player in regional economic growth through shared investment. If that call is heeded, the real-world effects will be felt far beyond trading floors — in family budgets, in the survival of small businesses and in the region’s ability to fund its own future.

By Boureima Amadou — Reporter