| Current Rank | Country | Value | Latest Reading | Previous Rank | Previous Value |
|---|---|---|---|---|---|
| 1 ↑ | South Africa | -3.26 | 2020 | 2 | -1.08 |
| 2 ↑ | Kenya | -4.93 | 2020 | 8 | -11 |
| 3 | Tunisia | -5.21 | 2020 | 3 | -3.5 |
| 4 ↑ | Botswana | -6.04 | 2020 | 7 | -9.4 |
| 5 ↑ | Tanzania | -6.16 | 2020 | 9 | -12.49 |
| 6 ↑ | Nigeria | -7.11 | 2020 | 11 | -23.22 |
| 7 ↓ | Morocco | -7.57 | 2020 | 5 | -6.29 |
| 8 ↑ | Ghana | -14.69 | 2020 | 10 | -21.48 |
| 9 ↓ | Namibia | -16.1 | 2020 | 1 | -0.5 |
| 10 ↓ | Egypt | -19.43 | 2020 | 6 | -8.41 |
| 11 ↓ | Mauritius | -20.1 | 2020 | 4 | -4.02 |
Stock market return is the growth rate of annual average stock market index. Annual average stock market index is constructed by taking the average of the daily stock market indexes available at Bloomberg.
