What's Happening?
According to the Africa Capital Markets Report 2025 by the OECD, African stock exchanges listed 1,141 companies by the end of 2024, representing a small fraction of global market breadth. The total market capitalization
across African exchanges was approximately $561 billion, about one-third of Africa's GDP. Egypt leads in the number of listed companies, while South Africa dominates in market capitalization and liquidity. The Johannesburg Stock Exchange accounts for roughly 60% of Africa's total equity market value.
Why It's Important?
The report highlights the challenges and opportunities within African stock markets. While the number of listed companies is small compared to global standards, the presence of large, liquid firms in South Africa indicates potential for growth and investment. This situation underscores the need for continued development of financial markets in Africa to attract more global investors. The focus on market capitalization and liquidity is crucial for enhancing the competitiveness of African exchanges and integrating them into the global financial system.
