African Markets Weekly Brief - August 22, 2025

African markets ended the week on a mixed note, with strong gains in Malawi (+9.0%), Zambia (+4.3%) and Uganda (+3.5%) offset by declines in Nigeria (-2.5%), Tanzania (-2.7%) and Ghana (-0.9%).
African markets ended the week on a mixed note, with strong gains in Malawi (+9.0%), Zambia (+4.3%) and Uganda (+3.5%) offset by declines in Nigeria (-2.5%), Tanzania (-2.7%) and Ghana (-0.9%).
African equity markets delivered another selective week of gains, with standout rallies in Rwanda, Malawi, Tanzania, Kenya, and Zambia, while larger markets such as Nigeria, Egypt, and Zimbabwe saw consolidation.
African stock markets navigated a mixed but largely positive week, with pockets of strong momentum still visible despite some signs of consolidation. The rally that took hold in July has not run out of steam, but it is becoming more selective.
African stock markets maintained their momentum this week, with several exchanges posting strong gains supported by favorable earnings, monetary policy developments, and notable corporate events. The bullish tone that dominated last week—driven by IPO announcements and product innovation—extended into early August, although with some divergence in performance across regions.