The UK100 influences many global business strategies, with Africa being one of them.
Many of the UK100-listed companies earn a substantial portion of their revenues from overseas regions such as Africa, Asia, and the Americas—it’s natural that the London-based stock index influences their business decisions and strategies.
Read on to learn about how the UK100 influences African business strategies.
What’s the UK100?
The UK100 refers to the FTSE 100 index, a benchmark index tracking the largest 100 companies listed on the London Stock Exchange by market capitalization.
By far, it’s one of the leading barometers of UK equity market performance that global investors and businesses follow through platforms such as Exness.
The index lists companies from diverse sectors, including:
- Financial services
- Mining
- Energy
- Consumer goods
- Pharmaceuticals
The fact that many FTSE 100 companies earn a lot of their revenues overseas means that the FTSE 100’s movements often mirror global economic trends and investor sentiment. It’s not all UK-specific conditions.
The FTSE 100 has had an incredible 12 months to date. In July 2025, the index closed above the 9,000-point milestone. By October, it peaked at almost 9,446 points. That equates to an almost 15% gain year-to-date.
It’s by far one of the best years for the market. Some of the strongest performances came from sectors such as:
- Healthcare
- Finance
- Mining
For example, on October 1, 2025, AstraZeneca’s stock price increase made it the most valuable London-listed company again.
How the UK 100 Relates to African Business
Multiple African companies are listed on the London Stock Exchange. There’s definitely a growing connection between UK capital markets and African business.
As of August 2025, the top 10 African companies listed in London have a combined market capitalization of nearly £29.8 billion. Leading those is Airtel Africa at £7.32 billion. Others in this group include:
Endeavour Mining: a gold miner focused on West Africa with a £5.63 billion market cap.
Commercial International Bank (CIB) of Egypt, with a £4.27 billion cap. There’s a significant African corporate footprint in the UK market and long-standing economic ties. London’s deep capital pools are attractive for African firms.
Essentially, the FTSE 100’s link to African business is tied to African companies raising capital and trading in London and FTSE-listed multinationals with operations and investments in Africa.
Many African businesses see London as a leader of global capital. Historically rooted connections that date back to colonial-era finance have evolved into modern investment linkages.
As of 2025, over 100 African or Africa-focused companies have listed on the LSE (obviously not all are on the FTSE 100), raising billions for expansion.
Recent examples include Guaranty Trust Holding Co. (GTCO) of Nigeria, which in July 2025 became the first West African bank to dual-list in London, raising about $100 million in its IPO.
Its London listing added £1.4 billion in market value and briefly pushed its domestic share price above ₦100.
London’s sophisticated investor base and analyst coverage of emerging markets make it attractive for African firms looking for capital and visibility.
More notably, the Department for Business and Trade spent recent years pitching London to African tech and finance companies, even easing listing rules, such as reducing free-float requirements, to lower barriers.
And it’s not only African-based companies on the FTSE 100. Constituent companies have substantial business in Africa or with African partners.
For example, Standard Chartered, a British bank in the FTSE 100, gains significant revenue from African markets.
In 2025, Standard Chartered reorganized its Africa strategy. After exiting smaller markets like Angola, Cameroon, and Zimbabwe, it selected Casablanca, Morocco, as a new regional hub to drive its Sub-Saharan Africa business.
Capital Markets in Africa
African capital markets are dynamic, often outperforming global markets in the last 12 months.
In 2024, several African stock exchanges experienced remarkable gains. They by far outstripped major world indices.
The standout was Kenya’s Nairobi All Share Index. It managed to deliver about a +62.9% return for 2024. That was nearly triple the S&P 500’s almost 23% gain that year.
Exchanges in Uganda and Tanzania posted strong USD-based returns of +40% and +26%, respectively.
This rally came despite currency volatility. It almost completely eroded dollar returns in some countries. For example, Nigeria’s stock index rose 37.7% in local currency but ended up being only a –19.6% USD return after a mid-2024 devaluation of the naira.
These figures show that African markets can surge independently of—and sometimes in contrast to—global indices.
And by the third quarter of 2025, African equities were, in aggregate, outpacing many developed market indices.
One composite measure, the Pan-Africa Index, which experiences average USD returns of 17 African exchanges, was up over +41% year-to-date (September 2025).
That comfortably beats the FTSE 100’s roughly +11.5% gain and the S&P 500’s +10.2% in the same period.
Why the Relationship Might Influence African Business Strategies
These indices express trends in global capital, investor sentiment, and economic health. They’re impossible for African businesses to ignore.
A strong FTSE 100 performance can signal an opportunity. High global risk appetite and liquidity often link to better access to finance for emerging markets.
For example, the FTSE’s increase to record highs in 2025, following expectations of stable or falling interest rates in major economies, indicates what feels like endless capital wanting returns.
African companies can interpret this as a favorable window to raise funds or attract investment. Whether it’s through eurobond issues, IPOs, or joint ventures, there are opportunities.
We’ve seen real examples of this. Nigerian firms like GTCO went to the London exchange to secure fresh equity capital.
When global equities are on a bullish run, African entrepreneurs and governments often increase investor outreach.
They’re more confident that global fund managers will be more receptive to frontier market stories.
That being said, a sharp downturn in global indices, as we’ve experienced during past crises, typically makes investors more risk-averse.
That can signal African businesses to create defensive strategies. It’s easy to track how changes like this impacts stocks using demo trading accounts.
If you use platforms such as Exness, the advanced tools accurately replicate market reactions.
What Other Companies Are on the FTSE 100, and How Are They Performing?
Here are some of the countries listed on the FTSE 100 and how they’re performing:
- Airtel Africa (Telecommunications)
- Anglo American (Mining)
- Coca-Cola HBC (Consumer Beverages)
- Unilever PLC (Consumer Goods)
Many global markets influence African business decisions, just like these markets influence business decisions in most nations.
They’re strong indicators of market performance and potential, so it’s natural that business decisions sometimes centre around them. Africa is no exception.
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