African stock markets have expanded in recent years, driven by reforms, improved regulation and growing interest in domestic capital formation. Below are the top 10 African stock markets ranked by the number of listed firms. Johannesburg Stock Exchange (JSE) – South AfricaAlthough it ranks behind Egypt and Nigeria by number of companies, the JSE is Africa’s most influential stock market. Casablanca Stock Exchange – MoroccoMorocco’s bourse is one of North Africa’s more stable markets, featuring a moderate number of listed companies and increasing participation from institutional investors. Ghana Stock Exchange (GSE) – GhanaThe Ghana Stock Exchange remains relatively small, with few new listings in recent years, reflecting the challenges faced by smaller African capital markets.

Source: Nigerian Tribune February 03, 2026 11:36 UTC