African exchanges lead in USD returns
How far can the record-breaking bull run continue for Africa’s stock exchanges? Many African exchange indices were up remarkably over 2025, encouraging participation by local investors and leading to renewed interest by domestic companies to come to the market for initial public offerings (IPOs) and other capital raising. In addition, many African currencies climbed in […]
First Atlantic Bank listed in Ghana after oversubscribed IPO
Ghana’s First Atlantic Bank PLC (FAB) listed for trading on the Ghana Stock Exchange (GSE) on 19 December, after an oversubscribed initial public offering (IPO). The combined offer was for 101.7m ordinary shares at GHS 7.30 each to raise GHS 742 million ($64.6m). Trading in the shares began the first day of the listing. On […]
African exchanges give soaraway returns to USD investors
Global investors have enjoyed top-notch returns by investing on many of the African stock exchanges over the first six months of 2025. Returns for investors who measure in USD have been many times higher on leading African stock exchange indices than returns on the US S&P 500 index and other developed markets indices. Local investors […]
Ghana’s OTC market aims to help smaller companies raise “patient capital”
The Ghana Stock Exchange has launched an official regulated over-the-counter (OTC) market where shareholders can trade in equities and other securities that are not listed on the official market. Rural and community banks which are not listed on the GSE could be the first users of the OTC market to offer their shareholders the opportunity […]
Liquidity and cost of trading on Africa’s stock exchanges – Bright Africa 2018
RisCura’s annual Bright Africa report into African securities exchanges is out and highly-recommended. Key challenge to investors, African stock exchange operators and regulators remain: liquidity, free float and cost of trading. Broker commissions are high, but with low trading volumes they need incentives to change.
Africa IPO round-up
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
BRVM securities exchange strategy dialogue with US frontier funds
In New York 30 US frontier investors, stockbrokers and market specialists joined Edoh Kossi Amenounve, CEO of the West African regional exchange BRVM, to give their inputs to strategy development for the fast-growing stock market.
Cross-exchange trading between Ghana and Nigeria stock exchanges
Brokers on the Ghana and Nigerian Stock Exchanges in July achieved a first cross border securities trade under the stage “sponsored access” of West Africa’s capital markets integration first launched 2013. This opens the way for more cross-border deals.
Dar es Salaam Africa’s top stock exchange to 31 Jan
Tanzania’s Dar es Salaam Stock Exchange topped the performance list for the 12 months to 31 Jan in USD, managing a 27% climb and beating the S&P 500 index which rose 11.9%.
Top performances for USD investors at Africa’s stock exchanges
Malawi came out as Africa’s top-performing exchange to USD-based investors over 2013 with a strong 62.4% return. Eight out of 13 African exchanges beat the S&P 500.
West African stock markets talking integration – will they walk the talk?
West African stock exchange leaders are again talking about integrating the markets. The exchanges in Ghana, Nigeria, Sierra Leone and Cote d’Ivoire have said they will seek to integrate by 2014.
African Stock Exchanges Association conference tackles key issues
Developing Africa’s securities exchanges is critical for the continent’s development, with capital markets standing between huge demand for capital for growth and huge demand to invest. The key issues are on the agenda of The 15th Annual African Securities Exchange Association conference (in Marrakesh, Morocco), hosted by Casablanca Stock Exchange, 12-13 December.
Tullow Oil listing to double value of shares on Ghana Stock Exchange
Tullow Oil plc is to start trading on the Ghana Stock Exchange on 27 July after allocating 3,531,546 ordinary shares of 10p each in a successful offer. The company says this is the largest primary share offer completed on the GSE and will more than double the market capitalisation.