NEWSROOM (ADV) – Botswana, Kenya and Nigeria have moved up the Absa Africa Financial Markets Index, produced by the Official Monetary and Financial Institutions Forum, and South Africa remains in top position, supported by strong financial market infrastructure and a robust legal framework.
The five highest ranked financial markets in the 2018 index are: South Africa, which remains in the top position; Botswana, which rose to second place from third last year; Kenya, which climbed two spots on improved access to foreign exchange; Mauritius, which moved down to the fourth place from second last year; and Nigeria, owing to improvements in administrative efficiency and tax incentives that have boosted the country’s regulatory environment.
The index shows that improvements in market infrastructure and regulatory frameworks could boost the performance of countries in the middle of the index over coming years.
Nigeria is a new entrant to the top five, as a result of Namibia falling to sixth place from fourth this year.
This year’s edition extends coverage to three additional countries – Angola, Cameroon and Senegal – and pays special attention to policies for enhancing market growth, including financial inclusion and investor education.
Countries are progressing with policies that support the development of financial markets across the continent. South Africa’s ‘twin peaks’ strategy for improving financial regulation and Mozambique’s ‘financial sector development strategy’ stand out among the frameworks introduced over the past year.
© Bur-csa – Oumaima Mourtada / A.H – African Daily Voice (ADV)