top of page

What If Africa Had Its Own “S&P 100”?

  • Feb 2
  • 3 min read

I’ve been sitting with a thought for a while — not a romantic dream, but a serious “what if.”


What if Africa had its own flagship index?


Not a single-country benchmark. Not a regional subset. But a widely recognised, rules-based “Africa Market 100” — the best, most investable public companies across the continent, held to clear standards, rebalanced consistently, and understood globally in one line.


Because right now, when people say “I want to invest in Africa,” what they often mean is:“I don’t know where to start.”


Africa is diverse, dynamic, and full of opportunity — but that same diversity can feel overwhelming to global investors. They face fragmented markets, uneven liquidity, currency complexity, and a perception gap that often exaggerates risk.


Bald man in a suit points to his temples intently, with gear wheels in the dark background. Text: "Chairman veri group." Mood is serious.

A flagship index simplifies the entry point.


The S&P 500 became powerful not just because of performance, but because it became a proxy for a whole market — a trusted reference that investors, pensions, advisers, and the media could all understand. Over long periods, the S&P 500’s annualised returns have often been cited around ~10% (depending on timeframe and whether dividends are included).


Now, I’m not saying Africa can or should try to “copy” America. But I am saying Africa can create something similarly legible: a benchmark that represents quality, investability, and continental scale.


This concept isn’t completely new — there are already credible Africa-focused indices like the S&P Africa 40 (large, liquid Africa-focused companies, with limits on companies from any single country) and the S&P Pan Africa BMI (a broader benchmark covering multiple African markets).


But an Africa Market 100 could become something more ambitious: a continent-defining “front door” to African public markets.


Why it matters (beyond the index itself)

1) It would create a global reference pointA simple question would finally have a simple answer:“How is Africa doing?”A flagship index makes Africa measurable in a way the world understands.

2) It would reduce concentration risk and country dependenceInstead of investing in one market and hoping it represents the continent, investors gain diversification across countries and sectors — which changes behaviour and confidence.

3) It would create a healthy competitiveness among companiesBeing in the “Africa 100” becomes a signal. A target. A standard. Companies begin to compete on what matters: liquidity, disclosure, governance, performance, stability.

4) It would unlock products that scale investment flowsIndices become ETFs. Model portfolios. Pension benchmarks. Structured products. It turns “interest in Africa” into deployable capital.

5) It would support the bigger shift I care about mostAfrica stops being viewed as fragmented stories, and starts being understood as a connected investment continent.


The “serious” part: it must be investable

For this to work, it can’t be symbolic. It has to be built with real-world constraints in mind — liquidity screens, free-float weighting, and sensible country/issuer caps (exactly the kind of discipline global index providers use).


But if we do it properly, an Africa Market 100 doesn’t just track performance.


It changes perception.It builds confidence.It invites the world in — on structure, not hype.


Question:If Africa had a single flagship index that the world could understand and invest in instantly, what do you think it would change first — capital flows, perception, or corporate behaviour?

We are delighted to work together in promoting the beauty and opportunities of Mauritius.


Our websites, Mauritius Life, Veri Global, and Property Finder, are committed to providing valuable information, resources, and services related to Mauritius, its culture, economy, real estate, and more.


Please explore our websites to discover the rich cultural heritage, breathtaking beaches, thriving economy, top-notch real estate listings, investment administration, and knowledge that Mauritius has to offer. Together, we aim to showcase the best of Mauritius and assist you in making informed decisions about living, investing, and experiencing all that this beautiful island has to offer.

Comments

bottom of page