The year 2024 was characterized by an international environment marked by heightened geopolitical uncertainty. Against this backdrop, global growth stood at 3.2% after 3.3% in 2023, while inflationary pressures eased, with price increases decelerating to 5.8% compared to 6.7% in 2023.
Despite these challenging global conditions and specific regional headwinds, WAEMU countries once again demonstrated resilience. Economic growth within the Union accelerated to 6.2%, up from 5.3% in 2023, driven by solid performance across all sectors of activity and the commencement of hydrocarbon exploitation in Niger and Senegal. The Union’s average annual inflation rate moderated to 3.5% compared to 3.7% in 2023.
In this context, BOAD, in line with its core mandate of fostering economic integration and balanced development across WAEMU member states, approved XOF 942.9 billion in financing for structuring projects in strategic sectors. This marks the second consecutive year the Bank has surpassed the XOF 900 billion threshold in financing to member states, with approximately 78% directed toward energy, food security, transport, and the digital economy.
Of the total financing extended, approximately XOF 763.9 billion (81%) was allocated in the form of medium- and long-term loans, compared to XOF 138 billion in short-term loans (14.6%), XOF 24.63 billion in equity investments (2.6%), XOF 10 billion in guarantee operations (1.1%), and XOF 6.4 billion in advances to fund feasibility studies as part of project preparation (0.7%).
Disbursements amounted to XOF 383.1 billion compared to XOF 449.0 billion in 2023, resulting in an annual disbursement ratio of 14.5% and a cumulative disbursement ratio of 64.7% at year-end 2024. The Bank’s financial position remains sound, underpinned by a balanced financial structure, with a net income of XOF 39.4 billion, total assets of XOF 3,893.48 billion, equity representing 35.7% of total assets, and a debt ratio of 177.4%, well below the statutory ceiling of 300%.
The steady improvement in earnings in recent years demonstrates that the Bank is strengthening both its operational efficiency and financial resilience. This enhanced position enables BOAD to scale up its interventions in support of Union economies, while fully playing its countercyclical and catalytic role within the region. The strengthening of the institution’s financial capacity has also continued through balance sheet optimization initiatives, notably the expansion of loan insurance programs and securitization schemes.
The above-mentioned performance highlights the decisive contribution of all stakeholders to the Bank’s results. It further reinforces investor confidence and consolidates the Bank’s credibility in the financial markets.
