The clearest contrast across African equities this week can be summed up in 2 numbers: +22.88% for Tunisia’s TUNINDEX since the start of 2026, versus a -1.06% Friday drop for the JSE All Share even with gold at $4,720.4 an ounce. In between, Cairo accelerated, with the EGX 30 closing at 53,605.1 points after a 1.99% daily gain, while Casablanca stayed broadly flat at 18,950.94 points, up just 0.55% in 2026.
That divergence matters because the week did not produce one continental trade. Brent fell 11.5% over the week to $101.29 a barrel despite a 1.2% daily rebound, easing some pressure on energy-importing economies such as Tunisia, Kenya and Morocco. At the same time, the dollar softened modestly against the South African rand at 16.3923, the Nigerian naira at 1,356.96, and the Moroccan dirham with USD/MAD at 9.115. That combination helped domestic financial and consumer names in several markets, but it did not stop profit-taking in South Africa’s heavyweight mining and technology counters.
Key figures
- TUNINDEX: +22.88% in 2026 at 16,526.74
- JSE All Share: -1.06% on Friday at 117,888.93
- EGX 30: +1.99% on Friday at 53,605.1
- MASI: +0.55% in 2026 at 18,950.94
- Brent: $101.29, down