Market Commentary

African stock markets had a dynamic week, heavily driven by IPO activity and announcements across the continent. From SKL's listing on the Nairobi Securities Exchange to the upcoming IPO of National Investment Bank in Ghana, investor interest in African capital markets is clearly gaining momentum.

African equity markets ended the week mixed, with Malawi and Nigeria driving gains, while Kenya, Namibia, and Francophone West Africa dragged on regional performance. Meanwhile, a wave of cross-border listings, self-listings, and successful IPOs continued to energize investor sentiment across the continent.

African equity markets delivered another week of gains, led by strong rallies in Kenya and Malawi, renewed investor activity in Nigeria, and upbeat sentiment in Ghana and Uganda. While Egypt cooled slightly after last week’s surge, and Morocco showed steadier momentum, corporate actions, index rebalancing, and cross-border listings continued to shape market direction across the continent.

African equity markets rebounded sharply this week, with several major indices reversing prior losses and others extending strong upward trends. The overall tone turned more constructive, supported by renewed investor appetite, corporate developments, and a flurry of listing activity across the continent. Compared to last week’s mixed performances, this week showed a clear bias toward recovery and momentum.