As of August 26, 2026, African markets are displaying performance differentials rarely seen before. Accra leads with +71.57% since January, followed by BRVM (+53.88%), Lagos (+52.78%), and Tunis (+46.39%). While stocks are soaring in several places, commodities are sharply correcting: -8% for Brent, -10.52% for coffee, and -2.69% for cocoa.
The year 2026 is taking a spectacular turn on African stock exchanges. Four months before the end of the year, four markets already show growth rates exceeding 45%.
The top spot goes to the Ghana Stock Exchange, with an index gain of 71.57% since January 1st. Behind, the BRVM, a common market for the eight UEMOA countries, shows +53.88%, slightly ahead of the Nigerian Exchange (+52.78%). Tunis completes this quartet with +46.39%.
The Egyptian Exchange also remains solidly oriented with +34.74% since January. At the other end, Johannesburg only gains 0.62%, while Casablanca is slightly in the red at -0.44%.
Accra Ahead of Abidjan and Lagos
The YTD ranking as of August 26 shows a particularly clear hierarchy:
| Place | 2026 Performance |
|---|---|
| GSE – Accra | +71.57% |
| BRVM – Abidjan | +53.88% |
| NGX – Lagos | +52.78% |
| BVMT – Tunis | +46.39% |
| EGX – Cairo | +34.74% |
| JSE – Johannesburg | +0.62% |
| Casablanca | -0.44% |
The session on August 26 confirms Tunisian strength: BVMT jumps by 2.01%, the best daily performance in the panel, ahead of Dar es Salaam (+1.11%) and Johannesburg (+0.86%). Accra advances by 0.40% and BRVM by 0.17%. Lagos declines by 0.17%, Nairobi by 0.02%, Lusaka by 0.13%, and Harare by 0.71%.
BRVM: Dividend Season Continues
In Abidjan, the dividend distribution schedule remains busy. SAPH Ivory Coast will detach a dividend of 489 FCFA per share on August 27, payable from August 28. TotalEnergies Marketing Ivory Coast follows with 158.827 FCFA, detachment on August 28 and payment on August 31.
Vivo Energy Ivory Coast will distribute 96.67 FCFA per share, with detachment scheduled for September 24 and payment on September 25.
Société Générale Ivory Coast (SGCI) has already detached its dividend of 2,606 FCFA per share on August 21, paid on August 24.
IPO: Dangote and Airtel Money on the Radar
The African market is also awaiting two operations that could change the game.
Dangote Petroleum Refinery is still announced for the August-September 2026 window, while the introduction of Airtel Money, a subsidiary of Airtel Africa, is expected in the second half of the year.
In Kenya, Citibank also plans to close its Mombasa branch after thirty years of presence, while Safaricom has released its audited accounts for the year ending March 31, 2026, and Kenya Airways its semi-annual results as of June 30.
In South Africa, Blu Label Telecoms shows a net loss of 5 billion rand, linked to the IPO of Cell C.
DIDEX 20: Managem and Discovery Stand Out
The DIDEX 20 of Financial Afrik, composed of the twenty main capitalizations in its African universe, represents a reference capitalization of around 406 billion dollars.
The consolidated performance as of August 26 is not published, with only 13 out of 20 listings available.
Among the listed values, Managem gains 5.22% in Casablanca and Discovery 4.54% in Johannesburg. Gold Fields progresses by 0.76%, Absa by 0.65%, Capitec Bank by 0.36%, and Attijariwafa bank by 0.16%.
Conversely, FirstRand drops by 1.23%, AngloGold Ashanti by 1.04%, and Impala Platinum by 0.74%.
Oil and Coffee Plummet
The contrast with commodities is stark. Brent falls to $86.84 per barrel, down by 8%, while Arabica coffee drops by 10.52% to 321 cents per pound.
Cocoa declines by 2.69% to $5,829 per ton.
On the other hand, wheat climbs by 9.79% to 748.25 cents per bushel and gold rises by 0.60%, to $4,651.90 per ounce.
In freight, the Baltic Dry Index reaches 3,056 points, up by 130 points, or +4.4%, indicating a rise in the maritime transport of dry commodities.
The African landscape is thus divided: strong acceleration in stock markets in Accra, Abidjan, Lagos, and Tunis, facing a significant correction in several major commodities. With +71.57% in Ghana and over 50% in BRVM and Nigeria, 2026 is already shaping up to be an extraordinary year for several African markets.
