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Transforming Investment Administration

African Capital Markets

Markets We Serve

Veri provides regulated investment administration for institutional investors seeking access to African capital markets — from the JSE and EGX to the BRVM and DSE. Below is a country-by-country guide to the exchanges, currencies, settlement infrastructure, and regulatory frameworks relevant to cross-border African investing.

Africa is home to more than 25 stock exchanges, each operating under its own regulatory framework, central securities depository, settlement cycle, and currency regime. For institutional investors, pension administrators, asset managers, and financial advisers, accessing multiple African markets simultaneously requires a regulated administration platform that manages custodian relationships, multi-currency reconciliation, compliance reporting, and consolidated performance attribution across jurisdictions.

The Veri Platform is operated from Mauritius by Gravitas Finance LLC, an FSC-licensed investment adviser with a Global Business Licence. Mauritius is Africa's leading international financial centre for cross-border investment, with double-taxation agreements across the continent and a regulatory framework that facilitates multi-jurisdiction administration for African market exposure.

The markets below are covered in the Veri AM100, AM200, and AM300 index universes and accessible to clients through the platform. Each page provides informational context on the exchange, listed companies, custody infrastructure, currency regime, and access considerations for offshore institutional investors.

🇿🇦JSE

South Africa

Southern Africa

Africa's largest and most liquid capital market

Johannesburg Stock ExchangeZAR

View South Africa market guide →

🇪🇬EGX

Egypt

North Africa

Africa's second-largest economy, operating across Cairo and Alexandria

Egyptian ExchangeEGP

View Egypt market guide →

🇳🇬NGX

Nigeria

West Africa

West Africa's dominant economy and Sub-Saharan Africa's largest by GDP

Nigerian ExchangeNGN

View Nigeria market guide →

🇰🇪NSE

Kenya

East Africa

East Africa's dominant financial hub and regional gateway

Nairobi Securities ExchangeKES

View Kenya market guide →

🇬🇭GSE

Ghana

West Africa

West Africa's most stable market, home to a growing financial services sector

Ghana Stock ExchangeGHS

View Ghana market guide →

🇿🇼ZSE / VFEX

Zimbabwe

Southern Africa

Two exchanges — one domestic, one USD-denominated for international investors

Zimbabwe Stock Exchange & Victoria Falls Stock ExchangeZiG / USD

View Zimbabwe market guide →

🇿🇲LuSE

Zambia

Southern Africa

Africa's copper heartland — a small but maturing capital market

Lusaka Securities ExchangeZMW

View Zambia market guide →

🇹🇿DSE

Tanzania

East Africa

East Africa's second-largest economy with growing capital market depth

Dar es Salaam Stock ExchangeTZS

View Tanzania market guide →

🌍BRVM

West Africa (BRVM)

West Africa

Eight-country regional exchange operating on a single EUR-pegged currency

Bourse Régionale des Valeurs MobilièresXOF

View West Africa (BRVM) market guide →

🇲🇦CSE

Morocco

North Africa

North Africa's gateway exchange and Morocco's institutional capital market

Bourse de CasablancaMAD

View Morocco market guide →

AM Series Indices

Pan-African Index Coverage

The AM100, AM200, and AM300 are pan-African equity indices developed by Veri, tracking the 100, 200, and 300 most liquid companies across African exchanges. The index universes draw from the JSE, EGX, NGX, NSE, BRVM, CSE, LuSE, ZSE, VFEX, and DSE — all of the major markets covered in the guides above.

Constituents are selected using a liquidity-score methodology based on trading activity over an 89-business-day observation window, with a 25% maximum country weight and a 5% maximum single-stock weight to ensure geographic diversification. The indices are rebalanced quarterly in January, April, July, and October.

The AM100 provides the highest-liquidity pan-African benchmark. The AM200 and AM300 extend coverage to mid-tier liquidity layers, capturing a broader cross-section of the continent's equity market universe. All three indices can be used as benchmarks for pan-African mandates managed through the Veri Platform.