One of the indispensable inventory markets in Africa had been amongst the supreme-performing frontier markets in the arena in 2024, even as the continent’s capital markets continue to make world enchantment. Main the pack was the Ghana Stock Alternate which obtained 56.17 p.c in 2024, adopted by the Malawi Stock Alternate. The Nigerian Alternate (NGX) additionally seemed on the checklist with a 37.65 p.c appreciation for the length of the yr.
As of December 1, 2024, the MSCI Frontier Emerging Markets Index, which displays the performance of frontier and emerging markets, including several African inventory market, recorded a 7.43 p.c make. Among the many African worldwide locations represented in this index are Ivory Soar, Morocco, Egypt, Mauritius, Kenya, and Tunisia.
Previous the numbers, these markets showcased the dynamism of Africa’s economies, buoyed by debt restructuring, forex stabilization, and sturdy company actions throughout the continent.
1. Ghana Stock Alternate – 56.17%
The composite index of the Ghana Stock Alternate preferred by 56.17 p.c in 2024, starting up at 3,130.23 and shutting at 4,888.fifty three. This marked the market’s handiest performance since 2013 when the market closed with a 78.8 p.c return.
The market’s Financial Index recorded an excellent 25.2% make, reflecting rising investor confidence in the Ghanaian economy. This optimism was pushed by fundamental strides made in restructuring the nation’s home and world debts.
2. Malawi Stock Alternate – 55.06%
The Malawi Stock Alternate All-Piece Index (MSE ASI) preferred 55.06 p.c in 2024. In 2023, the market preferred by 78.85 p.c. The Malawian inventory market has been on a bullish fling since 2022.
3. Lusaka Securities Alternate – 42.60%
The Lusaka Securities Alternate, which is the Zambian inventory market obtained 42.60 p.c in 2024. The All-Piece Index preferred from 10,828.18 at the originate of the yr to shut the yr at 15,440.9. One of the indispensable worthy corporations listed on the Lusaka Securities Alternate consist of Airtel Zambia, British American Tobacco, and Chilanga Cement which preferred by 85 p.c for the length of the yr.
4. Nigerian Alternate – 37.65%
The Nigerian Alternate (NGX) performed a 5-yr winning trot in 2024, with a 37.65 p.c return for the length of the yr. The All-Piece Index preferred from 74,773.77 at the originate of the yr to shut at 102,926.4.
Throughout the yr, oil and gasoline shares had been just some of the supreme gainers available in the market, as the alternate’s market capitalization elevated by over N21.8 trillion to shut at N62.763 trillion.
5. Uganda Securities Alternate – 36.94%
The Uganda Securities Alternate preferred by 36.94 p.c in 2024, as the All-Piece Index preferred from 872.5 to 1194.8 for the length of the yr. One of the indispensable listed corporations in the USE consist of, Airtel Uganda, British American Tobacco, and Stanbic Financial institution Uganda.
6. Nairobi Securities Alternate – 34.06%
The Nairobi Securities Alternate (NSE) delivered worthy performance in 2024, posting a 34.06% make in native forex phrases. Severely, in USD returns, the NSE emerged as Africa’s high-performing market, reaching an excellent 65.3% return. This distinctive performance was bolstered by the fundamental appreciation of the Kenyan Shilling in opposition to the US Buck.
In 2023, the NSE was the worst-performing inventory market in the arena in USD phrases because of the the massive depreciation of the Kenyan Shilling. On the other hand, this reversal of sort has enhanced investor confidence and attracting world capital.
7. BRVM – 29.70%
Bourse Régionale des Valeurs Mobilières, the official inventory market of Francophone West Africa returned 29.7 p.c in 2024, as its composite index moved from 212.82 to 276.02 for the length of the yr. In USD phrases, the market closed with a 34.9 p.c return, exact in the back of the Kenyan inventory market.
8. Casablanca Stock Alternate – 22.16%
The Morocco All-Piece Index, which is the index of the Casablanca Stock Alternate preferred by 22.16 p.c in 2024. MASI opened and closed the yr at 12092.88 and 14773.19 respectively.
Throughout the yr, just some of the supreme performing shares available in the market had been building firm Jet Contractors, Residences Dar Saada, and Alliances.
9. Daar es Salaam Stock Alternate – 20.85%
Daar es Salaam Stock Alternate is the official Tanzanian inventory market, and in 2024, the market preferred by 20.85 p.c. The market’s All-Piece Index started the yr at 1770.55 and closed at 2139.73.
One of the indispensable largest corporations listed on the alternate consist of, East African Breweries, KCB Crew, Tanzania Breweries, Vodacom Tanzania, and Tanzania Cigarette.
10. Egyptian Alternate – 19.47%
The Egyptian Alternate (EGX) grew by 19.47% in 2024, as indicated by the EGX-30 index. Throughout the yr, other indices in the Egyptian Alternate additionally preferred, with the EGX100 EWI gaining 42.40 p.c for the length of the yr.
Despite the depreciation of the Egyptian Pound, the market capitalization of the market jumped by $8.85 billion.
