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Indicators · Banking and capital markets

Stock market turnover ratio

The value of shares traded in a year as a share of average market capitalisation.

Why it matters

Liquidity: how easily a position can be bought or sold without moving the price.

Read with care

A few heavily traded stocks can dominate. Coverage is limited to exchanges that report.

Source

World Bank

% of market cap. 17 African countries, 1990 to 2024.

Turnover: highest in South Africa, lowest in Zambia

Stock market turnover ratio, % of market cap. Latest year available, mostly 2024. 9 of 16 countries have data.

0.7%
1%
2.5%
8.3%
No data
Loading map…
Source: World Bank· Get the data (Professional)·dotzedw Insights Centre

Ranked: turnoveriWhy it mattersLiquidity: how easily a position can be bought or sold without moving the price.

Click a country to highlight it.

0%2%4%6%8%10%South Africa25.8%Botswana8.4% (2023)Zimbabwe8.2% (1999)Mauritius2.8%Eswatini1.5% (2007)Namibia0.9%Tanzania0.9%Seychelles0.3%Zambia0.2%Axis cut: longest bar not to scalemedian 1.5%
dotzedw Insights Centre
How spread out SADC is
Median 1.5%Log scaleLowest: Zambia 0.2%Highest: South Africa 25.8%

Over time

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Stock market turnover ratio against income per person

Each bubble is a SADC country, sized by population. Dashed lines mark the SADC medians. Countries far from the pattern are worth a closer look.

0.0%5.0%10.0%15.0%20.0%25.0%$3,000$10kGDP per person, US$ (log scale)TurnoverTanzaniaSouth AfricaZambiaZimbabweNamibiaBotswanaMauritiusSeychelles
Source: World Bank, World Bank·dotzedw Insights Centre

Table

The same figures as the map, for screen readers and copying.
RankCountryValueYearFive-year changeGradeDetails
1South Africa25.8%2024down 7.4 points since 2019A
2Botswana8.4%2023up 4.5 points since 2018B
3Zimbabwe8.2%1999down 2.1 points since 1994B
4Mauritius2.8%2024down 1.6 point since 2019A
5Eswatini1.5%2007up 1.4 point since 2002B
6Namibia0.9%2024down 2.8 points since 2019A
7Tanzania0.9%2024down 0.9 points since 2001A
8Seychelles0.3%2024down 0.6 points since 2019A
9Zambia0.2%2024down 0.5 points since 2011A
–AngolaNo recent data
–ComorosNo recent data
–DRCNo recent data
–LesothoNo recent data
–MadagascarNo recent data
–MalawiNo recent data
–MozambiqueNo recent data