Public Management

Zimbabwe posts Africa’s best stock market returns since Jan. 2020

Zimbabwe posts Africa’s best stock market returns since Jan. 2020
Monday, 26 October 2020 17:04

The Zimbabwe Stock Exchange had the best performance of African stock market indices over the first nine months of 2020, according to a consolidated report by the African Markets platform.

Zimbabwe All-Share Index, the main index of this financial market, grew by 612% over the period under review when the values are taken in local currency. When securities are taken in dollar and euro, the ZSE ASI shows performances of 46.6% and 40% respectively. This means that foreign investors who made investments in dollars or euro in African financial markets made better gains in Zimbabwe.

Only two other African stock markets experienced positive performance in dollar terms. These are Rwanda (+6.8%) and Malawi (+2.9%). In euros, only Rwanda posted the second positive African performance (+2.56%).

The rest of the main African indices taken into account by the study posted declines in value. The worst performance analyzed is that of the Ugandan Stock Exchange where the main index, the Uganda Stock Exchange All Share Index, fell by 24.3% over the period analyzed. In dollar and euro terms, Zambia is the country with the worst returns among African stock market indices.

Zimbabwe's performance is surprising for a very poor country that is struggling to emerge from the socio-political crises. But it is precisely this sluggish situation in the local economy, especially the money market, which has given weight to the Zimbabwe Stock Exchange.

The devaluation of the local currency has prompted investors to inject money into listed companies. Until the end of 2019, these shares were undervalued but are now the only factors of stability for investors.

Idriss Linge

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Unilever CI shares surged 548% in 2025, reaching a peak market value of CFAF 478 billion. Parent Unilever sold 99.78% to SDTM-CI for about CFAF 24.5...
• Zenith Bank to enter Côte d’Ivoire in 2025, eyes Cameroon next.• $228M capital raise supports Francophone Africa expansion strategy.• Côte...
Visa launched Visa Pay app in Kinshasa on Sept 4. App supports FC/USD payments, transfers, and virtual cards. Five partner banks onboard;...
• Benin unveils green finance framework to mobilize funds for climate initiatives• Ten priority sectors include renewable energy, transport, water, and...
Most Read
01

Over the past two decades, mobile money has grown into a cornerstone of African finance. Driven by i...

Africa’s Mobile Money Boom: A New Frontier for Global Payment Giants
02

On August 31, 2025, the ruling coalition in Benin Republic—comprising the Union Progressiste pour le...

Romuald Wadagni: From High-Profile Minister of Finance to Presidential Candidate for 2026
03

• Tanzania to host investor talks on expanding CNG infrastructure• Government aims to boost CNG use,...

Tanzania Looks to Compressed Natural Gas to Ease Dependence on Costly Oil
04

Nigeria eyes $671m data center market by 2030, seeks Chinese investors. Rising mobile da...

Nigeria Courts Chinese Investors for $671 Million Data Center Market
05

• Lucara secures $10M loan for Karowe underground project• UGP faces delays, costs rise to ...

Botswana Diamond Mine Expansion, Now Costing $683 Million, Faces New Review and Delays
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.