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Analysis > Markets

New Commodities Bull Market Very Positive for African Equities

Tim Staermose, CEO, ST Funds Management
July 15, 2021, 10:08 p.m.

Word count: 975

It is not a revelation that many African economies remain heavily reliant on commodities exports. But just how closely African frontier equities markets’ performance (in USD terms) generally correlates with the global level of commodities prices is somewhat surprising. That’s because the equity market indices of sub-Saharan African frontier markets are completely dominated by domestically focussed sectors, such as financials and telecoms.

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