In 2025, African stock markets have delivered remarkable returns for investors when measured in U.S. dollar terms. Driven by factors such as stronger local currencies and renewed investor interest, several exchanges across the continent have outperformed their emerging-market peers.
BusinessDay has tracked these developments to identify the ten best-performing African markets. The ranking is based on growth in market capitalisation from the start of the year to October 7.
Malawi Stock Exchange (+257.9%)
The Malawi
In 2025, African stock markets have delivered remarkable returns for investors when measured in U.S. dollar terms. Driven by factors such as stronger local currencies and renewed investor interest, several exchanges across the continent have outperformed their emerging-market peers.
BusinessDay has tracked these developments to identify the ten best-performing African markets. The ranking is based on growth in market capitalisation from the start of the year to October 7.
Malawi Stock Exchange (+257.9%)
The Malawi
