Despite prolonged inflation, interest rate hike, insecurity and other macroeconomic challenges, the Nigerian Exchange Limited emerged as the second best-performing exchange in Africa in the last 3 months. Ghana Stock Exchange with (+23%) return emerged first while NGX (+19%) emerged second on the list, followed by Malawi stock exchange (+16%). The development has pushed the market to its 15-year high on the back of strong positive sentiments, following favorable policies introduced by the new administration to boost the economy such as the removal of fuel subsidies and the unification of exchange rate.
Source : The Guardian
