Impaxis Securities

What Impaxis Securities does

Impaxis Securities is a Dakar-based, independently owned brokerage firm operating as a Société de Gestion et d'Intermédiation (SGI) on the Bourse Régionale des Valeurs Mobilières (BRVM) — the regional stock exchange serving the eight WAEMU/UEMOA member countries. Founded in the early 2010s and ISO 9001 certified, the firm serves governments, state-owned enterprises, regional development institutions, and listed corporates across the WAEMU zone. It operates through a multi-vertical group structure: Impaxis Securities provides equity brokerage and primary-market debt arranging on the BRVM, Impaxis Capital delivers corporate finance and M&A advisory, and Impaxis Asset Management manages pooled investment vehicles. The firm has arranged transactions including the 100 billion FCFA Sonatel corporate bond (2020, oversubscribed by more than 120%), the 50 billion FCFA BIDC-EBID issuance (2021), the Government of Senegal Sukuk (the first Islamic finance instrument in WAEMU), the CRRH-UEMOA 20 billion FCFA social housing bond (May 2025), and multiple Senegal sovereign OAT tranches cumulatively exceeding 500 billion FCFA.

The firm's technology footprint comprises web and mobile applications (iOS and Android) delivering online trading, market data, portfolio analytics, and a virtual portfolio simulator to retail and institutional clients. Back-office and advisory workflows remain largely manual and relationship-driven, consistent with a headcount of 11–50 and the intermediation-heavy nature of West African capital markets. Differentiated intellectual property is limited to the regulatory license itself, certified processes under ISO 9001, and the institutional track record on outsized transactions. The technology layer is conventional for an emerging-market brokerage rather than a meaningful source of competitive advantage.

Impaxis Securities generates revenue from three streams: (1) brokerage commissions on BRVM equity and secondary fixed-income flow intermediated via the SGI license, (2) arranger, lead-manager, and placement fees on primary debt issuances where the firm acts as intermediary between issuer and investors, and (3) management fees on pooled vehicles run by Impaxis Asset Management plus advisory retainers from Impaxis Capital. Customer mix is heavily weighted toward sovereign and quasi-sovereign issuers, making deal-flow volume highly sensitive to public-sector issuance calendars in Senegal and the wider UEMOA zone.

Name

Impaxis Securities

Legal name

Impaxis Securities

Website

https://impaxis-securities.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Independently owned Dakar-based SGI brokerage on the BRVM serving governments, SOEs, regional development institutions, and corporates across the eight WAEMU countries with equity intermediation, primary debt arranging, asset management, and M&A advisory.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Investment Banking and Securities Intermediation (52315), Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Asset-Backed Securities (6189)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Follow-on Offerings (FPOs) (FSACAAAB), Asset-Backed Securities (ABS) (FSACACAA), Emerging Markets Debt (Hard & Local Currency) (FSACABAJ)

Keywords

• Stock brokerage services
• Bond issuance advisory
• Capital markets intermediation
• Investment banking services
• Securities trading

Headquarters

HQ city

Dakar

HQ country

Senegal

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Stock Brokerage Services: Commissions and fees from executing buy and sell orders for stocks listed on the BRVM regional exchange, serving individual and institutional investors across UEMOA.
2. Bond Issuance Arrangement: Lead arranger and bookrunner fees for structuring and placing public bond offerings for corporates and sovereigns. Notable transactions include Sonatel 100B FCFA bond and BIDC 50B FCFA bond.
3. Advisory and Corporate Finance: M&A advisory, structured finance, and strategic consulting services through Impaxis Group for corporates across West Africa.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Impaxis Securities is a licensed stock brokerage firm (Société de Gestion et d'Intermédiation - SGI) operating on the BRVM regional stock exchange, providing securities intermediation, lead arranger and bookrunner services for public bond issuances, and corporate finance advisory (M&A, structured finance) across the UEMOA region. The firm operates an online trading platform, mobile applications, and a virtual portfolio simulator serving individual investors, institutional investors, corporates, and sovereign issuers across 8 WAEMU countries.

Differentiator

Problem solved

Functional benefit

Brands

• Portefeuille Virtuel Impaxis: Virtual portfolio simulator for educational purposes allowing users to practice stock market investing with fictional portfolios using real-time BRVM market prices.

Products and services

• Stock Brokerage Services
• Bond Issuance Arrangement (Lead Arranger / Bookrunner)
• Corporate Finance and M&A Advisory
• Boursenligne (Online Trading Platform)
• Portefeuille Virtuel (Virtual Portfolio Simulator)
• Mobile Trading Applications
• Employee Mutual Fund Services

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Coris BoursecoreChannel Partner/ Reseller/ Distributor · 10 May 2021Co-arranger and co-lead manager for the BIDC-EBID 6.50% 2021-2028 bond issuance of 50 billion FCFA as part of a 240 billion FCFA total program. Impaxis Securities served as Principal Arranger and Leader with Coris Bourse as co-arranger.
• EDC Investment CorporationcoreChannel Partner/ Reseller/ Distributor · 10 May 2021Co-lead arranger alongside Impaxis Securities and Coris Bourse for the BIDC-EBID 6.50% 2021-2028 bond issuance on the UEMOA regional market.
• BRVM/BCBR (Bourse Régionale des Valeurs Mobilières)coreOthersRegional stock exchange where Impaxis Securities executes trades as a licensed SGI (Société de Gestion et d'Intermédiation). All equity and bond trading is conducted through the BRVM platform.
• CREPMF (Conseil Régional de l'Epargne Publique et des Marchés Financiers)coreOthersRegional financial markets regulator (AMF UMOA) that approves all public bond offerings and licenses brokerage firms. Impaxis Securities operates under CREPMF supervision.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SBIF Senegal (Société de Bourse Intermédiation et Financement): Senegalese licensed SGI that intermediates trades on the BRVM and offers a comparable retail brokerage and capital markets proposition to Senegal-based individual and institutional clients.
• Coris Bourse: Licensed SGI on the BRVM and direct co-arranger with Impaxis on the BIDC-EBID 50B FCFA bond; operates the same brokerage and capital markets franchise in Burkina Faso and the wider WAEMU zone, competing head-to-head for primary issuance mandates.
• EDC Investment Corporation: Pan-African brokerage and investment banking firm licensed across multiple African exchanges including BRVM; co-lead with Impaxis and Coris Bourse on the BIDC-EBID issuance, directly competing for the same sovereign and corporate mandate pool.
• Attijari Securities (Attijariwafa bank group): Brokerage and capital markets arm of the Moroccan banking group Attijariwafa; present across WAEMU brokerage licenses and competing for the same regional mandates through their local SGI partnerships.
• BOA Capital (Banque Of Africa group): Affiliated brokerage arm of the Bank of Africa network that is itself an issuer client of Impaxis (BOA Senegal capital increase); competes for both equity brokerage and primary issuance mandates across WAEMU.

Others

• BRVM (Bourse Régionale des Valeurs Mobilières): Regional exchange whose trading infrastructure, listing rules, and clearing shape every revenue stream Impaxis captures; a structural ecosystem partner rather than a competitor, but whose strategic direction dictates fee economics.
• African Development Bank (AfDB) capital markets programs: Multilateral issuer whose regional development bond programs (analogous to BIDC-EBID) connect Impaxis-as-arranger to a broader supranational client base across West Africa for primary issuance mandates.
• CRRH-UEMOA (regional mortgage refinance fund): Counterparty issuer on the 2013 inaugural bond and the May 2025 first UEMOA social housing bond; represents the institutional client base that drives recurring primary market mandates in the housing and social finance space.

Broad incumbents

• Standard Chartered Bank (DCM Africa): Global universal bank with an active African DCM franchise arranging UEMOA sovereign and corporate issues; competes with Impaxis for high-end primary mandates where international distribution and credit ratings expertise are required.
• Société Générale Capital Securities West Africa: West African capital markets and brokerage arm of Société Générale group; offers integrated brokerage, research, and DCM capabilities across WAEMU via SGCB and affiliates, providing deeper balance sheet capacity on competing mandates.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ImpaxisS
• Facebookfacebook.com/Impaxis-Securities-1678480389066408/?ref=hl
• LinkedInlinkedin.com/company/10577254?trk=tyah&trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A10577254%2Cidx%3A2-1-2%2CtarId%3A1479490563364%2Ctas%3Aimpaxis

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Impaxis Securities