# What are African stock markets?

> African stock markets are regulated exchanges and market infrastructures where listed African securities are traded, cleared and settled.

Canonical: https://mystocks.africa/answers/what-are-african-stock-markets
Last reviewed: 2026-06-28

African stock markets are the regulated exchanges, brokers, central securities depositories, clearing systems and regulators that allow listed African securities to trade. The largest and most institutionally developed market is usually the JSE, while NGX, NSE Kenya, GSE, BRVM and other regional exchanges provide access to local companies and sectors.

## Core market infrastructure

A stock market is more than an exchange website. It includes licensed brokers, order routing, settlement systems, depositories, regulators, issuer disclosures and market-data sources.

## How investors should compare markets

Useful comparison factors include number of listings, market capitalization, liquidity, trading hours, settlement cycle, currency, regulator, custody model and ease of funding or withdrawal.

## Key points

- African stock markets are regulated public-market systems.

- Each market has its own currency, settlement cycle and regulator.

- Market access can be direct, platform-based, broker-based or fund-based.

## Caveats

- Exchange rules and settlement cycles can change.

- Headline market size does not guarantee liquidity for every stock.

## FAQ

### Which African stock market is the largest?

The Johannesburg Stock Exchange is generally considered the largest African stock market by market capitalization and institutional depth.

### Can one investor access more than one African market?

Yes, if their platform or broker supports the relevant exchanges, KYC, custody, FX and settlement requirements.

## Related

- [African stock exchanges](https://mystocks.africa/african-stock-exchanges)
- [Trading hours dataset](https://mystocks.africa/african-stock-exchanges/trading-hours)
- [Regulator directory](https://mystocks.africa/african-stock-exchanges/regulators)
- [Compare exchanges answer](https://mystocks.africa/answers/how-do-i-compare-african-stock-exchanges)