On July 11, 2025, in Abidjan, the regional financial market of the West African Economic and Monetary Union (WAEMU) reached a new milestone with the launch of DIGIAPE, a digital platform designed to transform subscriptions to public offerings. Developed by the Central Depository/Settlement Bank (DC/BR) and supported by the African Development Bank, this innovation ushers in a new era for investors and issuers across the region.
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Until now, participation in government bond issues, corporate bond offerings, or stock market listings relied heavily on paper forms and manual procedures, often leading to lengthy settlement periods. With DIGIAPE, subscriptions are now carried out entirely online, via computer or mobile phone, with payments processed either through bank accounts or mobile money. Orders are handled automatically, enabling the allocation of securities almost instantly once an operation closes, compared to the three-day delay under the previous system.
The platform covers all products accessible through public offerings: government bonds, treasury bills, corporate bonds, equities issued during IPOs or capital increases, as well as newer instruments such as sukuk and green bonds. It thus establishes itself as a cornerstone of the region’s primary market.
Beyond streamlining procedures, DIGIAPE addresses a key challenge: broadening the investor base. In a region of more than 145 million people, only about 300,000 securities accounts currently exist, reflecting an extremely low penetration rate. By embracing digital channels and electronic payments, the platform seeks to open access to a wider audience, including the diaspora, young people, women, and even unbanked populations in rural areas.
The ambition is clear: to make the financial market faster, more inclusive, and more attractive, both for local savers and international investors. Its success, however, will depend on the ability of market participants to adopt the platform, strengthen financial literacy, and ensure reliable digital connectivity across the Union.
With DIGIAPE, WAEMU is not merely digitalizing a process; it is sending a strong signal of openness and modernization, aligning its financial market with international standards while striving to secure much broader citizen participation.
