African Stock Exchanges Ranked in 2025, Top Ten Revealed

Africa's stock exchange market is on an upward trajectory, with a combined market capitalization projected to reach US$1.42tn by the end of 2025. This dynamic growth is evident in the rapid emergence of influential players such as Nigeria's NGX, Egypt's EGX, and Ghana's GSE.

The Nigerian Exchange (NGX) leads the way in West Africa, boasting a market capitalization of US$70 billion. In 2024, the NGX recorded a remarkable performance of +37.7%, reflecting its robust growth. The Nigerian Exchange is primarily driven by key sectors like Energy, Telecommunications, and Banking.

In Egypt, the Egyptian Exchange (EGX) has a market capitalization of US$40.3 billion. The EGX30 Index rose by 19.5% in 2024, indicating a strong performance. The EGX's key sectors include Banking, Real Estate, and Industrial Manufacturing.

The Johannesburg Stock Exchange (JSE), the largest and most developed stock exchange in Africa, has a market capitalization of over US$1 trillion. Approximately 354 companies are listed on the JSE, with key sectors driving growth in Africa's stock exchange market such as technology, consumer goods, and infrastructure.

The Casablanca Stock Exchange (BVC) in Morocco has a market capitalization of $69.8 billion, with 76 companies listed. Key sectors on the BVC include Banking, Construction, and Telecommunications.

The Bourse Régionale des Valeurs Mobilières (BRVM) serves eight West African countries and has a market capitalization of US$12 billion.

The Botswana Stock Exchange (BSE) has a market capitalization of US$52.5 billion, with key listings including Anglo American Plc, First National Bank Botswana, and Botswana Insurance Holdings.

The Lusaka Securities Exchange (LuSE) in Zambia has a market capitalization of US$4.7 billion.

The Nairobi Securities Exchange (NSE) of Kenya has a market capitalization of approximately US$20 billion.

Lastly, the Ghana Stock Exchange (GSE) has a market capitalization of US$5.7 billion and recorded a strong performance of +56.2% in 2024.

Despite the growth and development, there are no specific search results available about the top ten largest economies by country on the Johannesburg Stock Exchange in 2025. The African stock exchange market continues to evolve, offering exciting opportunities for investors and businesses alike.