The article explores how changes in money supply affect stock market performance in ten African countries from 1993 to 2019. The researchers used various indicators like inflation, interest rates, and money growth to analyze the relationship. They found that an increase in money supply has a positive impact on the stock market through interest rates. However, high interest rates and inflation have a negative effect on stock market performance. The study also showed that monetary policy plays a significant role in the stock market performance of West African countries due to their higher financial openness.