The majority of African stock exchanges had a rough year in 2019. Most of them were in a losing spree during the year.
The best performing stock of 2019 was Zimbabwe’s Industrial Index that gained 57.32 percent after closing the year at 766.34.
The second best performing stock exchange was Uganda’s USE ALSI that gained 9.17 percent during the year followed Morocco’s MASI which gained 8.38 percent.
Egypt gained 7.33 percent during the year through its CASE 30 Index. Malawi closed the top five stock exchanges that gained during 2019 by closing the year with 4.38 percent with is MASI index.
In 2019, only five African stock exchanges gained. They are Zimbabwe, Uganda, Morocco, Egypt, and Malawi.
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The worst performing stock was Zimbabwe’s OML Implicated Rate (Industrial Index) that lost a whopping 68.38 percent.
Zambia’s LUSE All Share and Nigeria’s ASI were the second and third losers respectively with a loss of 18.75 and 14.60 percent.
Ivory Coast’s BRVM and Tanzania’s TSI lost 7.55 and 7.05 percent respectively in 2019.
Kenya’s NSE 20 lost 6.33 percent after closing the year 2019 with 3431.10. NSE has already issued a profit warning for the 2018/2019 year notifying shareholders that its profits will be lower by more than 25 percent.
Rwanda and Botswana lost 5.95 and 4.55 percent through their RSI and DCI indices after closing 2019 with 123.40 and 7494.55 respectively.
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In 2019, the best-performing stocks came from:
Zimbabwe
Uganda
Morocco
Egypt
Malawi
The worst-performing stocks of 2019 in Africa came from:
Zimbabwe
Namibia
Nigeria
Ivory Coast
Tanzania
Kenya
Rwanda
Botswana
Tunisia
Mauritius
Namibia
Analysts say the stocks in Africa are prone to receive more heat in 2020 given that most economies are struggling with companies closing down.
In Kenya’s NSE, for instance, more than a third of the companies are making losses and are likely to be placed under administration. The high unemployment rates in most African economies have also been blamed for the slowing in the growth of the economy.
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