Regulatory Alerts2025-08-01
BCEAO Instruction 11-07-2025 RFE on Prior Authorization for Non-Resident Entities Making Public Offerings in UEMOA
The BCEAO issues this Instruction to repeal prior provisions, specifically Instruction No. 09-07-2011/RFE, thereby updating the prior authorization framework for non-resident entities conducting public offerings in UEMOA. The directive takes effect on August 1, 2025, and mandates publication across all relevant jurisdictions. It formally confirms the regulatory authority's approval process for cross-border capital market activities within the West African Economic and Monetary Union.
3 Article 7: Entry into Force This Instruction repeals all prior provisions dealing with the same subject, notably Instruction No. 09-07-2011/RFE of July 13, 2011, regarding the issuance by the authority responsible for regulating external financial relations of the member states of the West African Economic and Monetary Union (UEMOA) of prior authorization to non-resident entities wishing to make a public offering in UEMOA. It enters into force on August 1, 2025, and is published wherever necessary. Done at Dakar, on July 7, 2025 The Governor