The AMF-UMOA has been modernizing the collective management market by strengthening its regulatory framework since 2021, with the aim of providing better protection to investors and stimulating the growth of a sector still seeking maturity. This transformation aims to give the regional financial market new depth and increase its role in the Union's economic dynamics.

Despite the entry of thirty-seven new players in recent years, interest in risky collective investment schemes remains timid. Yet, these financial vehicles could play a decisive role in financing small and medium-sized enterprises, whose access to credit remains restricted. The lack of appetite illustrates the persistent reluctance toward instruments deemed complex or risky, but also the need to strengthen stock market culture among the general public and institutional investors.

To reverse this trend, the union has diversified the range of available products, from equity funds to bonds to money market funds. The new rules also impose stricter safeguards to strengthen transparency and trust. By further regulating practices and ensuring the soundness of managers, the authorities hope to reassure savers and create a virtuous circle between capital mobilization and productive development.

Collective management could thus establish itself as a pillar of financing economic transformation, by channeling savings towards growth sectors and reducing dependence on external financing. This movement reflects a broader desire to build an endogenous financial architecture, capable of meeting the structural needs of the West African economy while giving investors an active role in this trajectory.