Top 5 Best-Performing African Stock Markets in 2024

 

African stock markets demonstrated remarkable resilience in 2024, with several indices experiencing significant growth despite macroeconomic challenges. Here are the top 5 best-performing African stock markets in 2024:

1. Ghana’s GSE Composite Index: 56% year-to-date growth, driven by a $3 billion IMF bailout, surge in global cocoa prices, and strong investor sentiment.
2. Zambia’s Lusaka All Share Index: 44.1% year-to-date growth, despite challenges from a severe drought that hurt agriculture and slowed GDP growth.
3. Nigeria’s All Share Index: 37.7% year-to-date growth, showcasing the resilience of Africa’s largest economy despite mid-year challenges from recapitalization efforts in the financial sector.
4. Kenya’s Nairobi All Share Index: 33.7% year-to-date growth, driven by a strong rally in the latter part of the year despite slower economic growth.
5. BRVM Composite Index: 29% year-to-date growth, representing the stock markets of the West African Economic and Monetary Union (WAEMU) region, driven by a surge in global cocoa prices and Senegal’s economic recovery.

Source: Nairametrics

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