Absa Group and OMFIF release the Top 20 African financial markets for this year
South Africa remains the leader amongst African financial markets as stated by the South African bank Absa Group and Official Monetary and Financial Institutions Forum (OMFIF), a think tank specialized in the financial sector.
The South African market scored 93 points out of 100 in the 2018 edition of the index that reviewed 20 African markets. Despite worsening of the macroeconomic environment, the South Africa's market remains deep and liquid.
In the current edition, Botswana gained one place to rank 2nd thanks notably to the measures initiated by the government to broaden its investors base. Kenya (3rd) gained three places due to its good performances in opening its financial market to foreign investors.
Mauritius (4th) lost two places and Nigeria (5th) gained one place. Namibia, Ghana, Zambia, and Morocco also ranked within the Top 10.
"The index facilitates a meaningful debate about the maturity and accessibility of Africa's financial markets. It is an important contribution that supports policy-makers, investors, regulators, and other market participants to identify the areas and initiatives which will drive the most significant improvements", said Maria Ramos, Chief Executive Officer of Absa Group.
"It is heartening to see the advances made by African countries, in many areas, to improve the efficiency of capital markets, However, more remains to be done regarding the robustness of market infrastructure and regulatory frameworks across Africa and we look forward to tracking progress annually ," David Marsh, president of OMFIF indicated. Read more from Ecofin Agency.
Source: Ecofin Agency