The Absa Africa Financial Markets Index, produced by OMFIF, provides a toolkit for countries seeking to strengthen their financial markets infrastructure.
It tracks progress on financial market developments annually across a range a countries and indicators. This year’s edition extends coverage to three additional countries – Angola, Cameroon and Senegal – and pays special attention to policies to enhance market growth, including financial inclusion and investor education. Kenya, Morocco and the Seychelles have improved their scores most over the last year, particularly in terms of openness to foreign exchange. Nigeria’s score has also strengthened, thanks to policies augmenting market depth and enhancing the capacity of local investors. Mauritius and Namibia, while still among the top performers, have seen their scores deteriorate across most pillars. Improvements in market infrastructure and regulatory frameworks could boost the performance of countries in the middle of the index over coming years.
The Index, produced by OMFIF and sponsored by Absa, focuses on six fundamental pillars:
- Market depth
- Access to foreign exchange
- Market transparency, tax and regulatory environment
- Capacity of local investors
- Macroeconomic opportunity
- Legality and enforceability of standard financial markets master agreements
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