Background

Thanks to the collaboration between OMFIF (Official Monetary and Financial Institutions Forum) and the Economic Commission for Africa, the coverage of African countries in the Absa African Financial Markets Index increased in 2023. Indeed, two new countries have been included; these are Cabo Verde and Tunisia.

The Absa Africa Financial Markets Index evaluates countries’ financial market development based on multi-dimensional measures. The aim of the Index is to provide guidelines to African countries on how to reduce the barriers to investment which can, in turn, boost sustainable growth and increase their resilience.

The index, produced by OMFIF and sponsored by Absa, measures the efficiency, openness, attractiveness, and transparency of financial markets in 28 countries across the continent, based on six fundamental criteria:

1. Market depth
2. Access to foreign exchange
3. Market transparency, tax and regulatory environment
4. Capacity of local investors
5. Macroeconomic environment and transparency
6. Legal standards and enforceability.

According to the report, there is an overall improvement in the index for most African countries, despite a difficult global macroeconomic context. Improving the investment climate in Africa is essential for deepening financial markets. This involves improving liquidity on national equity, fixed income and currency markets, but also the tax environment to attract more investments.

This workshop is therefore organized by ECA, Absa and OMFIF, to present the latest results, and exchange with countries, stakeholders, and experts on its methodologies, for better understanding and awareness of the Index.

Objectives

The objectives of the webinar are as follows:

1. Present the results of Absa Africa Financial Markets 2023 to stakeholders and highlight the key market updates
2. Address technical questions on data source, methodologies, and compilation of indicators
3. Identify and discuss issues that are significant to the development of financial markets.

Date and Time

The webinar is scheduled for Thursday, 14^th March, 2024, at 2 p.m. East Africa Time, or 11 a.m. GMT.

This webinar will be interpreted in English and French.  

Link: https://zoom.us/meeting/register/tJMqdO-ppjsjH9XVIRqrR7O2d_XTQAUdIr1V     

Draft Agenda

Moderator: Sonia Essobmadje, Chief of section, IFCMS, PSDFD, ECA

Contact Persons