Ghana moves two places up the Absa Financial Markets Index; ranks 4th in Africa
Ghana has moved two places up in the Absa Financial Markets Index in this year’s ranking.
The index ranking independently produced by the Official Monetary and Financial Institutions Forum (OMFIF), now ranks Ghana as the fourth African country with the most attractive financial markets.
Ghana per the 2021 ranking is behind Zambia, Nigeria, Mauritius and South Africa. Ghana in 2020 was ranked the sixth on the African Continent.
Speaking of the country’s ranking for this year at the 10th edition of the Business and Financial Times Ghana Economic Forum (GEF), Deputy Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, remarked the ranking is due to the resilience and robustness of the country’s financial markets and the general Ghanaian economy amid the pandemic.
Read: Renewable Energy: Investments in sector hits $2 billion, says GIPC
Adding that the benchmark Ghana Stock Exchange Composite Index (GSE-CI) for this year for instance has made year-to-date returns of over 46 percent for investors in cedi terms making it the best stock market on the African Continent. In dollar terms, however, the GSE is overtaken by Zambia’s stock market.
The Absa Africa Financial Markets Index evaluates financial market development in 23 countries, and highlights economies with the most supportive environment for effective markets.
The aim is to show present positions, as well as how economies can improve market frameworks to bolster investor access and sustainable growth.
The Index assesses countries according to six pillars: market depth; access to foreign exchange; market transparency, tax and regulatory environment; capacity of local investors; macroeconomic opportunity; and enforceability of financial contracts, collateral positions and insolvency frameworks.
