THE AFRICA TIMES | NIGERIA — According to the African Development Bank’s (AfDB) 2026 African Economic Outlook report, Nigeria, Egypt, Morocco, and South Africa continue to dominate Africa’s equity markets. The report underscores the increasing significance of capital markets across the continent, despite ongoing financing challenges.
The AfDB research indicates that Africa’s equity market capitalization has ballooned nearly sixfold over the past two decades, reaching approximately $1.2 trillion in 2024. This figure represents around 40 percent of the continent’s gross domestic product (GDP). However, market activities are primarily concentrated in only a few economies, specifically Nigeria, Egypt, Morocco, and South Africa.
