Lusaka, Zambia — The Lusaka Securities Exchange in Zambia finished 2021 as the best-performing stock market in Africa, registering a 93.2 percent gain in U.S. dollars for investors.

Ghana's exchange finished second, recording a 38.59 percent gain in U.S. dollars. The Malawi stock exchange posted a 32.24 percent gain, good enough for third.

During the first nine months of 2021, the Accra Bourse was actually the best performing stock market in Africa, until it was dislodged by the Lusaka Stock Exchange. This was due to the pressure on the local currency - the cedi.

 
The Ghana stock exchange enjoyed one of its best runs in recent times last year, reversing three consecutive years' losses.

Botswana's stock exchange finished at the bottom of Africa's rankings.