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# [AFRICA] African markets: BRVM gains ground, Nigeria's NGX ranked world's 2nd-best exchange in H1 2026
- URL: https://businessoi.media/en/afrique-marches-africains-la-brvm-progresse-le-ngx-nigerian-classe-2eme-bourse-mondiale-au-h1-2026-en/
- Published: 2026-08-05T13:46:13.000Z
- Updated: 2026-08-05T13:46:13.000Z
- Description: BRVM gains 0.32% on the week with ORGT leading at +16.3%. Nigeria's NGX closes H1 2026 at +46% — the world's 2nd-best performing exchange. African markets weekly wrap-up.
- Author: Emmanuel TAOCHY
- Tags: Afrique, Bourse, Clôture, #en

**African stock markets delivered a constructive week.** The BRVM, the West African regional exchange, closed the week of July 28 to August 1, 2026 up 0.32%, recovering after several weeks of profit-taking. A mixed picture on the regional market, but one that conceals some spectacular individual surges. And in Nigeria, the scorecard is unambiguous: the Lagos Stock Exchange (NGX) wrapped up the first half of 2026 with a **+46%** gain — the second-best performance worldwide, behind South Korea.

## On the BRVM: ORGT surges, Ecobank retreats

The week was marked by the performance of Oragroup Togo (ORGT), which jumped **+16.3%**, followed by Sicor Côte d'Ivoire (+14.29%) and Safca Côte d'Ivoire (+10.63%). On the downside, the biggest decliners were Ecobank Transnational Inc (ETIT, -9.59%), Sicable Côte d'Ivoire (-7.89%) and Setao Côte d'Ivoire (-7.75%). This consolidation reflects profit-taking after several weeks of gains, without challenging the broader upward trend.

## Nigeria: +46%, the world's 2nd best-performing exchange

The standout event of the semester in Africa is the performance of the Nigerian Exchange Group (NGX). **The benchmark index climbed 46% in the first six months of 2026**, pushing market capitalisation above **147 trillion nairas** at end-June. Energy led the rally: Seplat Energy and Aradel Holdings propelled the oil and gas index above +90%. In banking, Ecobank Transnational posted +127%, Jaiz Bank +82% and Zenith Bank +78%. Berger Paints, in the industrials space, surged an extraordinary +207%.

The one caveat: this historic performance was **largely missed by foreign investors**, including diaspora funds, due to access and liquidity barriers — fuelling debate about the modernisation of the continent's financial markets.

## Tokenisation: Nairobi opens a new frontier

In Nairobi, another development is drawing attention: Tether, the issuer of the USDT stablecoin, and the Nairobi Securities Exchange (NSE Kenya) are jointly exploring **securities tokenisation**. The stated goal is to transform access to capital markets and liquidity across East Africa — a development worth watching closely, with the potential to accelerate financial inclusion at a regional scale.

## Why it matters

For economic players in the Indian Ocean, these dynamics are far from trivial. Sub-Saharan Africa is emerging as a magnet for global capital, outpacing many classic emerging markets. The exchanges in Lagos, Nairobi and Abidjan are setting a new benchmark for regional investors. Mauritius, the Indian Ocean's financial hub, is particularly well-placed to serve as a gateway to these dynamic markets.

*Sources: Daba Finance / allAfrica, NGX Group, TechMoonshot, BRVM.*