Top 10 best performing stock markets in Africa

Tanzania has been ranked number six as the top-performing African stock market that have displayed outstanding returns, captivating attention and admiration from the investment community.

This is according to the African Financials Research, based on data available up to June 2023.

With Up to 1.7 per cent, Tanzania along with BRVM Cote d’Ivoire have admirably held their ground, both showcasing a modest 1.7 per cent increase in US dollar returns.

These markets have exuded resilience amidst regional economic challenges, earning the utmost respect of the investment community.

According to the report, which has been published by the Business Insider Africa, ranks Malawi highest in the continent (up 67.6 per cent) with an awe-inspiring surge of 67.6 percent in US dollars, Malawi’s stock market has emerged as a force to be reckoned with, displaying unparalleled resilience and potential.

Despite its relatively modest size, Malawi’s economic prowess has astounded investors, drawing shrewd minds in search of promising prospects.

Namibia (Up 18.1%) Namibia’s stock market has proven to be a stalwart performer, boasting an impressive 18.1% increase in US dollar returns. Revered for its stable economic conditions, Namibia has quickly become a favoured destination for investors seeking reliable growth avenues.

Zambia (Up 15.5%) Amidst the tumultuous economic landscape, Zambia’s stock market has demonstrated unwavering mettle, soaring with a robust 15.5% gain in US dollar terms. Endowed with abundant copper resources, Zambia has captivated investors who envision long-term prosperity in the country.

Seychelles and Uganda (Up 3.7%) Both Seychelles and Uganda have stood their ground, recording a commendable 3.7% increase in US dollar returns. These nations have exhibited remarkable resilience, inspiring trust and confidence among investors amidst uncertain times.

Ghana (up 3.0 per cent) Nimbly navigating through the storm, Ghana’s stock market charts a steady course, delivering a 3.0 per cent gain in US dollar returns. Bolstered by a diversified economy and investor-friendly policies, Ghana continues to beckon discerning investors with its enticing potential.