Jul 8, 2026 · 10 min · 10 segments
In this first mid-week edition of Daba Markets Talk, we explore Africa’s fast-growing stock markets and why the continent’s exchanges are becoming serious investment destinations. The episode looks at…
Too small, too difficult to access, too volatile, too opaque.
That was the old narrative.
But today, that story is changing quickly.
Across the continent, stock exchanges are gaining size, depth, and relevance.
According to data highlighted by Daba Research, African stock exchanges reached around $1.6 trillion in combined market capitalization in 2024.
Today, that figure has grown to more than $2 trillion.
That is not just a number.
It is a signal.
Let's start with the big picture.
By June 2026, the index was standing at nearly nine times its 2016 level.
one of the most dramatic runs in any emerging market.
Nigeria's stock market capitalization is now around N157 trillion, or roughly $115 billion.
Several forces drove that growth.
Macroeconomic reforms, NERA depreciation boosting nominal equity values, new listings such as Goregu Power, Transcorp Power, Aradel Holdings, and BUA Foods, and a growing wave of retail investors looking for better returns.
Too small, too difficult to access, too volatile, too opaque.
That was the old narrative.
But today, that story is changing quickly.
Across the continent, stock exchanges are gaining size, depth, and relevance.
According to data highlighted by Daba Research, African stock exchanges reached around $1.6 trillion in combined market capitalization in 2024.
Today, that figure has grown to more than $2 trillion.
That is not just a number.
It is a signal.
Let's start with the big picture.
By June 2026, the index was standing at nearly nine times its 2016 level.
one of the most dramatic runs in any emerging market.
Nigeria's stock market capitalization is now around N157 trillion, or roughly $115 billion.
Several forces drove that growth.
Macroeconomic reforms, NERA depreciation boosting nominal equity values, new listings such as Goregu Power, Transcorp Power, Aradel Holdings, and BUA Foods, and a growing wave of retail investors looking for better returns.
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