13 OCTOBER 2022

Absa Africa Financial Markets Index

Harnessing the power of African opportunity

Absa Africa Financial Markets Index has shone a crucial light on the opportunities for investment in the region.
It is now returning for its sixth edition, the index is a vital part of policy-makers and market participants’ toolkits and a benchmark for
international investors looking to commit to the region.

AFMI 2022

The index, produced by OMFIF and sponsored by Absa has expanded this year to record the openness and attractiveness of 26 countries across the continent to foreign investment based on six fundamental pillars:

  1. Market depth
  2. Access to foreign exchange
  3. Market transparency, tax and regulatory environment
  4. Capacity of local investors
  5. Macroeconomic opportunity
  6. Legality and enforceability of standard financial markets master agreements

We are once again proud to bring you this report, which through expert analysis of African financial markets, draws attention to the considerable investment opportunities that live right here in Africa.

The bravery to imagine. That’s Africanacity.

Head of Research, Jeff Gable, unpacks the trends he has seen over the years in the countries we have been measuring since AFMI launched. He also delves into the new countries that have joined this year’s index. #AfricaExpertise


Insight 1

Coverage has expanded to 26 countries with the addition of the Democratic Republic of Congo, Madagascar and Zimbabwe.


Insight 2

Despite the difficult external conditions, 19 countries improved their scores relative to last year and scores were generally boosted by progress in developing sustainable financial markets and improving financial product diversity.


Insight 3

South Africa, Mauritius and Nigeria maintain their positions in the top three this year, as they continue to score highly on measures of market depth, transparency and enforceability of legal agreements.


Insight 4

Uganda rises two places to fourth, while Namibia and Kenya improve their ranking within the top 10. Scores for these three countries primarily rose due to progress on adopting ESG policies and frameworks.

Download the 2022 AFMI Index launch report

Related Insights

AFMI 2023

AFMI highlights Africa is already unlocking its potential

The release of the seventh iteration of the Absa Africa Financial Markets Index (AFMI) demonstrates that the continent is rapidly maturing and is no longer simply taking the first steps on a developmental journey. Instead, we can see clear signs that the true potential of the continent is being unlocked.


Innovation and credibility are key to Africa’s success

Are African financial markets in a better place than a year ago? As the leading banking group on the continent, this is a key question we consistently interrogate across our operations.


Absa Africa Financial Markets Index 2022

Absa Africa Financial Markets Index has shone a crucial light on the opportunities for investment in the region.


Absa Africa Financial Markets Index 2021

No other report dives deeper into Africa’s true potential. 23 surveyed economies, with insights and tools across 6 metrics – geared towards highlighting Africa’s growth potential.


Africa Financial Markets Index 2018

The continent’s financial markets have remained resilient and innovative amid slowing worldwide growth after the synchronised upturn of 2017. However, they remain fragmented and shallow compared to their equivalents in Latin America and Asia.


Africa Financial Markets Index 2019

The continent’s challenges are clearly visible, and its countries are crafting actionable solutions. Highlighting the positive developments in market infrastructure and the fostering of market Growth, The 2019 Absa Africa Financial Markets Index report assesses progress and potential across six key pillars:


Africa Financial Markets Index 2020

The 2020 Absa Africa Financial Markets Index report launch will provide an in-depth look into the continent’s financial markets.