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Countries in Africa with an Exchange

The exchanges in the African region are located in the countries of Algeria, Angola, Botswana, Cameroon, Cape Verde, Côte D’Ivoire (Region Exchange), Egypt, Ethiopia, Gabon (Regional Exchange), Ghana, Kenya, Lesotho, Libya, Madagascar, Malawi, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Seychelles, Sierra Leone, Somalia, South Africa, Sudan, Swaziland, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.

The Regional Exchange located in Côte D’Ivoire (BRVM) serves the countries of Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal and Togo while the Regional Exchange (BVMAC) located in Gabon serves the countries of the Central African Republic, Chad, Congo, Equatorial Guinea and Gabon.

To learn more about which exchanges are in each country, click on a country link above to begin your search.

Overview of African Economics & Exchanges

The regions highest ranked gross domestic products (GDP) in 2016 was Nigeria (26th globally) with a GDP of $405 billion. Ranked upon Purchasing Power Parity (PPP), Nigeria (21st) also led the region with a PPP of $1.1 trillion.

Many exchanges in Africa are viewed as being part of a Frontier Market economy, which generally will have less developed capital markets. A Frontier Market is a type of developing country that is more developed than the least developing countries but too small to be considered as an Emerging Market.

Frontier Market economies in Africa that possess a capital market include Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Kenya, Mauritius, Morocco, Nigeria and Tunisia.

It is common for African exchanges to be a member of the African Securities Exchanges Association (ASEA). While the majority of exchanges in Africa are stock exchanges, there are derivative and commodity exchanges as well.

History of Exchanges in Africa

The oldest exchange in Africa may be the Egyptian Exchange (EGX), which was founded in 1883. It was formed through the merger of the Alexandria Stock Exchange (1883) and the Cairo Stock Exchange (1903).

Other older exchanges in Africa include the Johannesburg Stock Exchange (1887) and the Casablanca Stock Exchange (1929).

Largest Exchanges in Africa

The largest exchange in Africa is the Johannesburg Stock Exchange (JSE), which finished 2016 with a market capitalization of $959 billion.

Other large exchanges in Africa include the Egyptian Exchange ($32b), the Casablanca Stock Exchange ($58b) and the Nigerian Stock Exchange ($29b).

Sources: World Federation of Exchanges, World Bank, African Securities Exchanges Association, International Monetary Fund

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