Last week saw a mixed performance across African equity markets, with a clear divergence between North and Sub-Saharan Africa.
Morocco’s MASI led the pack with a strong +3.26% gain, supported by robust investor sentiment and continued macroeconomic stability. Nigeria’s NGX also rebounded (+2.5%), suggesting renewed buying interest after recent volatility.
On the downside, Ghana’s GSE (-2.77%) was the region’s laggard, despite being one of the top performers YTD (+22.83%) — a signal of possible profit-taking. Similarly, Malawi’s MSE pulled back (-1.2%), though it remains the continent’s top-performing market so far in 2025 (+62.61% YTD).
Overall, market movements remain mixed, with investor sentiment largely driven by country-specific factors rather than unified regional trends. Notably, Southern African markets (South Africa, Namibia, Zambia) posted solid weekly gains, reflecting a modest return of confidence.
