Africa-Focused ETFs: List of ETFs for African Markets

VanEck launched its Africa Index ETF (AFK) on NYSE Arca back in 2008, making it one of the earliest funds to give U.S. investors one-trade access to the continent’s 54 countries. The universe of Africa-focused ETFs remains small — a reflection of less developed capital markets and political risks across much of the region — but a handful of funds cover the continent’s largest economies.

South Africa dominates the space, with South Africa-centric products representing roughly 70% of Africa-focused ETF assets. Beyond South Africa, the continent’s top economies include Egypt, Algeria, Nigeria, and Morocco, each with distinct sector strengths.

Notable Africa ETFs traded on NYSE Arca:

• VanEck Africa Index ETF (AFK): Tracks the MVIS GDP Africa Index, which balances exposure across three zones — South Africa, Northern Africa, and Sub-Saharan Africa. The fund holds 77 securities spanning multiple sectors.
• iShares MSCI South Africa ETF (EZA): A single-country fund from BlackRock tracking the MSCI South Africa Index, covering large and mid-cap South African companies.
• Global X MSCI Nigeria ETF (NGE): Tracks the MSCI All Nigeria Select 25/50 Index, with heavy exposure to financials, consumer discretionary, and industrials.
• VanEck Egypt Index ETF (EGPT): A country-specific fund targeting Egypt’s North African market.

Africa ETFs go well beyond mining. Financial services, consumer growth, and infrastructure developments feature prominently, particularly in funds like AFK that include companies incorporated in Africa or deriving at least 50% of their revenues from the continent. Country-specific ETFs allow targeting individual economies — Nigeria’s oil-driven market, Morocco’s manufacturing base serving European supply chains, or Egypt’s mix of tourism, agriculture, and industry.

One thing to note: currency risk is a significant factor when investing in African markets through unhedged ETFs. African companies also appear in broader emerging market ETFs, though typically in small allocations.

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The table below lists Africa-focused ETFs traded on international exchanges, including broad continental funds and country-specific strategies.