In 2025, West Africa’s economic landscape paints a picture of contrasting fortunes for companies in the region. While Ivorian companies have experienced significant growth, Nigerian firms face challenges that have impacted their market value and performance.
According to the latest regional rankings, Ivorian companies have made significant strides, with four entries in the top rankings. The BRVM stock exchange in Ivory Coast has also reached a record market capitalization of $36 billion, indicating a strong performance and growth trajectory for companies in the country.
On the other hand, Nigerian firms have faced challenges, particularly due to the devaluation of the naira. This has had a significant impact on the market value of companies such as Dangote Cement, which has seen its value decline from $11.2 billion in 2022 to $5.3 billion in 2025. BUA Foods, another Nigerian company, has also experienced a decrease in its market value.
Despite these challenges, Airtel Africa, a company listed in Nigeria, has managed to weather the storm and even experience growth. Through its broader regional expansion efforts, Airtel Africa has seen its market value increase from $5 billion to $7.8 billion, highlighting the company’s resilience and strategic approach to market dynamics.
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