The Covid-19 pandemic has spread all over the world and these effects have shaken all economies. One year after the onset of this modern-day catastrophe, Africa's financial markets are showing some resilience.

The economic recovery is well underway. In Africa, African states are all the more under pressure as their room for manoeuvre remains limited. The downgrading of Ethiopia's rating and, at the same time, the upgrading of Benin's by Moody's clearly indicates that the G20 initiative is not yet a consensus within the private investment community. Domestic financial markets are marketed by bonds and Eurobonds.

At the level of the WAEMU Regional Stock Exchange, the BRVM composite closed the session of March 11 with an increase of 0.48% driven by Bank Of Africa Mali (+ 7.2%), Bank Of Africa Senegal (+ 5.52%) and Bank Of Africa CI (+ 4.35%), which thus sign the strongest increases of the session.

In Casablanca, the MASI (composite) stalled, ending the session on a -0.03% on low volumes. In Tunisia, the Tunindex snatched 0.47% to 6,820.97 points in a trading volume of 4.4 million dinars (1 dollar = 2.75 Tunisian dinars), driven by bank stocks.

At the Nigeria Stock Exchange, the news is dominated by the IPO of the market management company, the Nigerian Exchange Group Plc ('NGX Group'). On the Johannesburg Stock Exchange (JSE), the composite index rose 0.6%.