West Africa
The BRVM Composite (COMPOSITE) rose +0.87% to 332.53, driven by SAPH (+7.45%), TTF (+7.40%), and SOGB (+2.7%), while SNTS led turnover at FCFA 2.7 bn (33%). Market cap reached FCFA 12.8 tn, P/E 12.5×, yield 7.4%, signaling disciplined institutional flow.
Morocco
The Casablanca Stock Exchange cooled modestly as the MASI slipped 1.44% to 18,549. Large-caps like VICENNE (11.9% of turnover) and Attijariwafa Bank (MAD 157 billion cap) dominated a MAD 1.85 billion trade week—signaling rotation not retreat amid a 25.56% YTD gain.
Nigeria
During Week 41 (6–10 Oct 2025), Nigeria’s market matured through yield, not speculation. ₦NGXASI rose 2.37% to 146,988 as bonds surged 1,038% in value. ₦MTNN, ₦AXAMANSARD, and ₦SOVRENINS led gains while liquidity shifted decisively toward government debt.
Tanzania
On the DSE (DSE:TZ), bond turnover rose from TZS 34.12 bn to 86.07 bn (+152%), dwarfing equities at TZS 2.56 bn. CRDB (DSE:CRDB) climbed 8.5% to TZS 1,280, while NMB (DSE:NMB) held TZS 7,800 and TBL (DSE:TBL) at TZS 10,200 — proof Tanzania’s market now grows through debt, not speculation.
China
China’s equity markets have entered an unexpected rebound, drawing global attention as policy momentum, liquidity support, and investor sentiment converge. The Shanghai Composite Index (SHA:000001) closed near 3,670, up roughly 9 percent year-to-date, while the Shenzhen Component (SHE:399001) and ChiNext (SHE:399006) each gained over 1
Exchanges & Indices
Casablanca Stock Exchange’s new industrial issuer program could redefine Africa’s capital markets. With MASI20.F futures live and market cap above MAD 1 trillion, Morocco is turning industrial policy into investable equity — building issuers before investors arrive.
Markets
NSE launches Banking Sector Index tracking lenders like EQTY (P/B 0.9x, ROE 23%) & KCB (0.8x, ROE 19%). Kenyan banks now benchmarked for ETFs & global flows. Sector trades at 0.6–0.9x P/B vs Nigeria 0.4x, South Africa 1.3x; NPLs still ~14%.
Markets
Family Bank eyes NSE listing by introduction Oct 27. H1 2025 net profit up 39% to KSh 2.28bn, deposits +26% to KSh 150bn, assets at KSh 193bn. With NPLs at 14%, investors will weigh liquidity, governance, and growth vs peers KCB, EQTY, COOP.
Markets
First Quantum (TSX: FM) is betting $1.25B on Kansanshi’s S3 to replace lost Panama output and anchor Zambia’s 3 Mt copper goal. Success could reprice Zambia’s Eurobonds and shift global supply chains, but execution and policy risks loom.
Markets
Standard Chartered (LSE: STAN; LUSE: SCBL) has shortlisted bidders for its Zambia retail arm, a move that could reshape Lusaka’s banking scene. With Zanaco, Absa (JSE: ABG), and Access (NGX: ACCESSCORP) circling, investors await the price tag.
Markets
The LSE suffers another blow as PHLL delists, exposing how London discounts complexity and why sponsors like Goldman prefer private ownership to public patience.
Exchanges & Indices
The JSE surged in Week 37, fueled by a +R44.4B net foreign inflow into bonds. The Resource 10 Index soared +82.32% YoY, while weekly equity turnover value hit R166.1B. Strong conviction defined a bullish week for investors in South African markets.