5 best-performing African stock expected to gain in 2025

African stock markets delivered impressive performances in 2024, led by Ghana’s benchmark stock index, which recorded the continent’s strongest returns.

Supported by economic reforms and investor optimism, several countries are poised to continue this positive trend in 2025. Here’s a closer look at the top-performing stock indexes in Africa and their outlook.

According to Bloomberg, here are the 5 best-performing African stock expected to gain in 2025

Ghana’s GSE Composite Index – 56%

Ghana’s stock index led Africa with a remarkable 56% return in 2024, the highest since 2013. This was bolstered by a $3 billion IMF bailout and an average GDP growth of 6.3% over the year. Investors anticipate further gains under President John Mahama’s administration, which has prioritised economic stability and fiscal consolidation. Analysts forecast a 45% gain in 2025, underpinned by an improving economy and strengthening cedi currency.

Zambia’s Lusaka All-Share Index – 44.1%

Zambia’s index ranked second, gaining 44.1% in 2024 as investors responded to rising copper prices and ongoing economic reforms. The country’s focus on debt restructuring and infrastructure development has attracted international attention. With global demand for critical minerals increasing, Zambia’s stock market could sustain its momentum in 2025.

Nigeria’s NGX All-Share Index – 37.7%

Nigeria’s stock market surged 37.7%, supported by President Bola Tinubu’s economic reforms, including currency liberalisation and the removal of fuel subsidies. The energy sector was a standout, with Oando Plc and Seplat Energy Plc posting exceptional gains. However, ongoing inflationary pressures and a cost-of-living crisis may temper investor enthusiasm in 2025.

Kenya’s Nairobi All-Share Index – 33.7%

Kenya’s index climbed 33.7% in 2024, reflecting a recovery in the banking and agricultural sectors. Political stability and efforts to reduce public debt contributed to renewed investor confidence. The continued growth of technology and financial services positions Kenya as a key investment hub in East Africa.

Ivory Coast’s BRVM Composite Share Index – 29%

The BRVM index rose 29%, driven by Ivory Coast’s robust economic performance, fueled by record cocoa prices and new oil and mining projects. The IMF’s $3.5 billion loan has supported infrastructure expansion and banking sector recovery. The country is expected to grow at 6.4% in 2025, further boosting the regional stock exchange.