A Pan-African Benchmark for the Continent's Economic Engine
The Africa 30 Index uses a free-float market-capitalisation weighted methodology — the same approach used by the S&P 500, FTSE 100, and MSCI World. Here's exactly how today's value of 5,068.73 is derived:
At the end of each trading day, we collect the closing share price for each of the 30 constituent companies from their primary exchange (JSE, NGX, NSE, EGX, BRVM, CSE Casablanca). All prices are converted to USD using that day's closing exchange rate.
For each company: Share Price × Free-Float Shares Outstanding = Free-Float Market Cap. Free-float excludes shares held by governments, founding families, or strategic holders (locked shares that never trade). This ensures the index reflects what investors can actually buy.
We add up the free-float market caps of all 30 companies. Today's aggregate: $285.4 billion. This represents a significant portion of Africa's total listed equity market capitalisation.
The total market cap is divided by a fixed number called the Divisor. The Divisor was set on January 1, 2020 (the base date) so that the index equalled exactly 1,000.00. It is only adjusted for corporate actions (stock splits, rights issues, constituent changes) — never for normal price movements.
The value of 5,068.73 means the aggregate free-float market value of Africa's top 30 companies has grown by 406.87% since the base date of January 1, 2020. This single number captures the economic trajectory of the continent's largest, most liquid, most diversified public companies.
A company's weight in the index equals its free-float market cap divided by the total. For example, if Naspers has a free-float market cap of $24.3B out of a $285.4B total, its weight is 8.52%. Larger companies move the index more — just as Apple moves the S&P 500 more than a smaller constituent. This is recalculated every trading day as prices change.
Sorted by index weight. Prices delayed 15 minutes. Last rebalanced Q1 2026.
| # | Company | Country | Sector | Exchange | Price (USD) | Day Chg | Mkt Cap (USD) | Weight |
|---|---|---|---|---|---|---|---|---|
| 1 | NaspersNPN.JO | 🇿🇦 South Africa | Technology | JSE | $54.82 | +1.8% | $24.3B | |
| 2 | FirstRandFSR.JO | 🇿🇦 South Africa | Financials | JSE | $16.24 | +0.9% | $22.8B | |
| 3 | Capitec BankCPI.JO | 🇿🇦 South Africa | Financials | JSE | $132.50 | +2.1% | $19.4B | |
| 4 | MTN GroupMTN.JO | 🇿🇦 South Africa | Telecom | JSE | $10.87 | -0.4% | $18.6B | |
| 5 | Standard BankSBK.JO | 🇿🇦 South Africa | Financials | JSE | $11.35 | +0.6% | $17.2B | |
| 6 | Gold FieldsGFI | 🇿🇦 South Africa | Mining | JSE / NYSE | $16.83 | +2.4% | $14.9B | |
| 7 | AngloGold AshantiAU | 🇿🇦 South Africa | Mining | JSE / NYSE | $28.75 | +1.9% | $12.1B | |
| 8 | Shoprite HoldingsSHP.JO | 🇿🇦 South Africa | Consumer | JSE | $13.18 | +0.7% | $11.6B | |
| 9 | Attijariwafa BankATW.CS | 🇲🇦 Morocco | Financials | CSE | $52.40 | +0.5% | $10.8B | |
| 10 | Vodacom GroupVOD.JO | 🇿🇦 South Africa | Telecom | JSE | $5.92 | +0.3% | $10.2B | |
| 11 | Maroc TelecomIAM.CS | 🇲🇦 Morocco | Telecom | CSE | $10.25 | +0.8% | $9.0B | |
| 12 | Absa GroupABG.JO | 🇿🇦 South Africa | Financials | JSE | $11.10 | +1.1% | $8.9B | |
| 13 | SafaricomSCOM.NR | 🇰🇪 Kenya | Telecom | NSE | $0.21 | +1.4% | $8.4B | |
| 14 | CIB EgyptCOMI.CA | 🇪🇬 Egypt | Financials | EGX | $1.58 | +2.3% | $7.8B | |
| 15 | SasolSOL.JO | 🇿🇦 South Africa | Energy | JSE | $12.40 | -0.8% | $7.6B | |
| 16 | DiscoveryDSY.JO | 🇿🇦 South Africa | Financials | JSE | $10.75 | +1.5% | $7.2B | |
| 17 | Dangote CementDANGCEM.LG | 🇳🇬 Nigeria | Industrials | NGX | $0.38 | -1.2% | $6.5B | |
| 18 | SonatelSNTS.BV | 🇸🇳 Senegal | Telecom | BRVM | $30.15 | +0.6% | $5.8B | |
| 19 | GTCO HoldingsGTCO.LG | 🇳🇬 Nigeria | Financials | NGX | $0.13 | +3.1% | $3.9B | |
| 20 | Zenith BankZENITHBA.LG | 🇳🇬 Nigeria | Financials | NGX | $0.08 | +2.6% | $3.5B | |
| 21 | BUA CementBUACEMEN.LG | 🇳🇬 Nigeria | Industrials | NGX | $0.06 | -0.5% | $3.2B | |
| 22 | Equity GroupEQTY.NR | 🇰🇪 Kenya | Financials | NSE | $0.40 | +1.8% | $3.0B | |
| 23 | Ecobank TransnationalETI.BV | 🇹🇬 Togo | Financials | BRVM | $0.04 | +0.9% | $2.8B | |
| 24 | KCB GroupKCB.NR | 🇰🇪 Kenya | Financials | NSE | $0.31 | +1.2% | $2.1B | |
| 25 | East African BreweriesEABL.NR | 🇰🇪 Kenya | Consumer | NSE | $2.05 | -0.3% | $1.8B | |
| 26 | CosumarCSR.CS | 🇲🇦 Morocco | Consumer | CSE | $22.80 | +0.4% | $1.7B | |
| 27 | Nigerian BreweriesNB.LG | 🇳🇬 Nigeria | Consumer | NGX | $0.02 | +1.0% | $1.5B | |
| 28 | Société Générale CISGBC.BV | 🇨🇮 Côte d'Ivoire | Financials | BRVM | $18.90 | +0.7% | $1.3B | |
| 29 | Seplat EnergySEPLAT.LG | 🇳🇬 Nigeria | Energy | NGX / LSE | $2.85 | +1.6% | $1.0B | |
| 30 | Jumia TechnologiesJMIA | 🇳🇬 Pan-African | Technology | NYSE | $4.82 | +3.8% | $0.5B |
Note: South Africa weight reflects the depth of the JSE. The methodology applies a 15% country cap at each quarterly rebalance to prevent over-concentration. Countries with higher natural weights are gradually reduced through cap redistribution.
Version 2.1 — Effective January 2026. 24 pages.
The Africa 30 Index is calculated from publicly available market data sourced directly from African stock exchanges and verified through multiple providers. Stock prices are factual data — once a trade executes on a public exchange, the price is a fact.
Africa's largest exchange. $900B+ total market cap. Real-time feeds via JSE SENS. 12 of 30 constituents.
End-of-day data • PublicWest Africa's dominant market. $80B market cap. Daily bulletins published publicly. 5 of 30 constituents.
End-of-day data • PublicEast Africa's leading exchange. $20B market cap. Market reports via NSE website. 4 of 30 constituents.
End-of-day data • PublicNorth Africa's second-largest market. $50B+ market cap. Real-time data on EGX website. 1 of 30 constituents.
End-of-day data • PublicNorth Africa's leading exchange. $70B market cap. Arabic-French bilingual platform. 3 of 30 constituents.
End-of-day data • PublicRegional exchange serving 8 West African nations. $15B market cap. CFA franc denominated. 3 of 30 constituents.
End-of-day data • PublicFor Africa-origin companies dual-listed in New York: AngloGold Ashanti (AU), Gold Fields (GFI), Jumia (JMIA). 3 of 30 constituents.
Real-time data • Public APIsAutomated data collection via MarketStack, Twelve Data, and direct exchange APIs. End-of-day prices with 15-minute delayed intraday where available.
Automated • Verified