Ouagadougou: The extraordinary meeting of the WAEMU Council of Ministers was held this Tuesday via videoconference, chaired by Burkina Faso's Minister of Economy and Finance, Aboubakar Nacanabo, who also serves as the current Chairman of the Council of Ministers. During the meeting, the ministers appointed Kossi Tenou of Togo as the new Chairman of the AMF-UMOA, the authority responsible for regulating the regional financial market.

According to Burkina Information Agency, this appointment comes two months after the departure of the institution's former president, Badanam Patoki, who became Togo's Minister of Economy and Strategic Intelligence. His change of role had temporarily left the presidency of the AMF-UMOA vacant.

An experienced economist and central banker, Kossi Tenou has over twenty years of experience in the West African financial system. He headed the national office of the BCEAO for Togo, before being appointed advisor to the governor of the Central Bank, then Minister in charge of Trade in October 2025.

With the arrival of Mr. Tenou, the member states of the WAEMU intend to revive the governance of the AMF-UMOA, accelerate pending reforms and strengthen investor confidence. The objective is to consolidate the transparency, solidity, attractiveness and good regulation of the regional financial market, a true pillar of sub-regional economic integration.

Created on July 3, 1996, under the name CREPMF, AMF-UMOA has borne its current name since October 1, 2022. It supervises financial operations, issues licenses, protects public savings and regulates public offerings in all member states. With a capitalization exceeding 24,000 billion FCFA and nearly 200 authorized players, the regional financial market is experiencing continuous growth. The challenge therefore remains to guarantee its stability, transparency and good governance in order to support public and private investment and to sustainably support the economic development of the Union.