The African stock market was bullish in 2021 as a review of the market showed that out of 17 stock exchanges on the continent, 16 recorded gain while only one closed in the red territory.
Data obtained from the bourses also showed that while the Zimbabwe All Share Index (ASI) topped the list with a gain of 310.51 per cent, followed by Lusaka’s ASI and Ghana GSE Composite Index as second and third with gains of 54.89 per cemt and 43.66 per cent respectively.
However, the only loser was Rwanda’s RSE ASI with loss of 1.90 per cent after the index closed the year toward south.
The Top Gainers
Zimbabwe All Share Index +310.51%
- Zimbabwe All-Share Index, the main index of the financial market grew by +310.51% YTD. Its index point increased to 10822.36 basis point as of the end of the year.
- Zimbabwe’s performance is surprising given the present economic woes betiding the country. Its growth rate has been slow and economic pressures further exacerbated its growth rate while its inflation rate as of December 2021 stood at 60.74%.
The growth in Zimbabwe All Share Index could be attributed to performance of listed companies which perform very high regardless of the country’s economic woes.
Lusaka ASI +54.89%
- Zambia LuSE ended the year with 6059.68 index point, growing by 54.89% YTD.
- The Zambian LuSE growth is evidence of the strong showing of the Zambian economy through the year.
Ghana (GSE Composite Index) +43.66%
- Ghana Stock Exchange Composite GSE-CI is a major stock market index which tracks the performance of all companies traded in the Ghana Stock Exchange.
- Ghana Stock Exchange Composite GSE-CI increased by +43.66% YTD in 2021. Its index point increased to 2789.34 points as of the end of the year 2021.
- Ghana’s economy recorded a growth of 6.6% in the third quarter of 2021 from the 3.9% expansion recorded in the preceding period
- The GSE-CI growth was boosted by growth in the education sector, health sector, information sector.
