According to a report by the African Financial Markets Initiative (AFMI) released on June 5, 2026, listed companies on African stock exchanges allocated 80% of their total capital expenditure in the first quarter of 2026 to three sectors: telecommunications, mining, and transport.
The report, which analyzed data from 120 companies across 12 African exchanges, found that telecoms accounted for 35% of the investment, mining for 28%, and transport for 17%. The remaining 20% was spread across energy, agriculture, and financial services.
Telecommunications investments were driven by 5G network expansion in Nigeria and Kenya, while mining investments focused on copper and lithium projects in Zambia and the Democratic Republic of Congo. Transport investments were primarily in railway and port infrastructure in South Africa and Morocco.
AFMI Director Dr. Amina Diallo stated, 'This concentration reflects the strategic priorities of African economies, where digital connectivity, resource extraction, and logistics are key growth drivers.'
