2025 RECAP | The African Stock Market Outperformed Bitcoin and Crypto for the First Time in 2025, Says MyStocks Africa

For the first time ever, African stocks seems to have outperformed the crypto space in 2025 bringing attention to this investment vertical.

According to the MyStocks Africa Wrapped 2025 report, African stock markets have officially outperformed Bitcoin for the first time, confirming a historic shift.

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While Bitcoin saw a ~13% decline, African stock exchanges delivered explosive returns. Some of the best perfomring African stock markets were:

• Malawi – Over 200%
• Ghana – Over 70%
• Kenya – Over 50%
• Nigeria – double-digit growth despite macro headwinds

A breakdown of USD returns for 2025 year-to-date reveals some impressive numbers across the continent:

• Malawi – 247%
• Ghana – 143%
• Zambia – 108%
• Nigeria – 60%
• South Africa – 57%
• Egypt – 39%
• Kenya – 49%
• BRVM – 39%
• Morocco – 38%
• Tunisia – 34%


A breakdown of different companies across the continent reveals even more impressive figures:

• Ferchem (Egypt) – 1,560%+
• Clydstone (Ghana) – 1,443%+
• NCR (Nigeria) – 1,348%+
• ZAMEFA (Zambia) – 1,098%+
• El Arabia (Egypt) – 608.23%
• ZIMRE (Zimbabwe) – 541%+
• EHDR (Egypt) – 550%+
• Stroc (Morocco) – 498%+
• SAMEER (Kenya) – 498%
• Beta Glass (Nigeria) – 470%+
• SVN (Egypt) – 452%+
• Mutual Benefits (Nigeria) – 452%+
• UCHUMI (Kenya) – 452%
• Unilever (Ivory Coast) – 428%
• ASSAD (Tunisia) – 382%+
• Northam (South Africa) – 241%
• Home Afrika (Kenya) – 243%


Money Market Funds (MMFs) provided meaningful real returns in high-rate environments with investors using them as strategic yield allocations over just parking tools improving overall portfolio risk management. The best peforming MMFs with disciplined capital allocations were:

• MansaX (Kenya)
• Black Star (Ghana)

The report also notes:

• Penny stocks offered huge capital appreciation
• Value stocks offered solid dividend returns, and
• North African markets were the Kings of African IPOs.


The report also provies a 2026 market outlook highlighting that:

• FX reforms are expected to continue resharing valuations and foreign participation
• Commodity dependencies are expected to remain core to index performance
• Cross-border liquidity and institutional interest are expected to continue expanding

In terms of sector trends, the report notes that:

• Financials and telecoms remain structural bets, and
• Infrastructure and energy sectors are poised for selective acceleration

Investor behavior throughout 2026 is expected to prioritize quality earnings, balance sheet resilience, and dividend sustainability.

Some key IPOs to look out for in 2026 include:

• Airtel Money – H1 2026 (Pan-Africa)
• Kenya Pipeline Company – March 2026 (Nairobi Securities Exchange, NSE)
• Egyptian Fintech VaIU – 2026 Window (Potential EGX Listing)
• Flutterwave – Expected 2026 – 2027 (Global)
• Ayrade – 2026 (Algeria)
• INSAG – 2026 (Algeria)
• Pharmaceutical company (unnamed) – 2026 (Algeria)

According to ebaya Mwamba, Founder and CEO of MyStocks Africa:

“This isn’t just a flue; its a signal of maturing capital markets and resilience across the continent.

If your portfolio had zero exposure to Africa in 2025, you missed the year’s biggest growth story.”

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