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Nigeria Ranked 6th On Africa’s Financial Markets Index by postbox: 8:26pm On Dec 18, 2017 |
Expanding and deepening financial markets across Africa is a central condition for the next stage of the continent’s development. That is a key conclusion of the Africa Financial Markets Index launched Wednesday by think tank Official Monetary and Financial Institute Forum (OMFIF) and sponsored by Barclays Africa Group Limited (BAGL). Africa’s large and dynamic markets present above-average opportunities for growth, yet investment prospects – for both international and local investors – are hampered by underdeveloped financial markets and unclear legal and regulatory frameworks. The Index ranks the maturity, openness, and accessibility of 17 financial markets in Africa, based on both qualitative and quantitative criteria. Development of local investor capacity and ability to attract foreign capital are key points of focus. Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), said: “Through expert analysis of the African financial markets, the Africa Financial Markets Index draws global attention to the considerable investment opportunities and uncovers the untapped market potential.” The Index focuses on six fundamental pillars for financial market performance: Market depth, Access to foreign exchange, Market transparency and regulation, Capacity of local investors, Macroeconomic opportunity and Enforceability of international financial agreements. The 17 markets surveyed are, Botswana, Egypt, Ethiopia, Ghana, Ivory Coast, Kenya, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Tanzania, Uganda, and Zambia. The Index intends to track progress annually, supplying a toolkit for countries wishing to build financial infrastructure. African countries are implementing a growing number of national policy frameworks for market development. One of the greatest constraints on growth-enhancing investment is the low capacity of local investors, partly linked to limitations on the range of assets for local investors. Given its size and historical position, South Africa tops the 2017 list, despite poor recent macroeconomic performance, based on the strength of its financial markets as well as its relative openness and transparency for transactions. Others are closing the gap. Mauritius and Botswana have strengths in tax and regulation and access to foreign exchange. Nigeria, Kenya, and Ghana provide signs of progress as Nigeria ranks sixth. Ivory Coast, with a low overall score, is home to a growing regional bourse, pointing to future improvement. Ethiopia shows the highest GDP growth prospects of the 17 countries – even though it comes bottom of the list in terms of financial market prowess. “The Index provides countries with valuable insights and tools to improve the state of their financial markets,” says Maria Ramos, Chief Executive, BAGL. “By broadening and deepening their understanding of the requirements of local and international investors, Africa’s leaders can develop robust markets – a prime condition for sustainable, inclusive growth.” David Marsh, Managing Director of OMFIF, said: “Liquidity, regulation, foreign exchange restrictions, and policy choices are among the chief concerns for investors considering their African engagement.” “Our survey highlights the areas where specific countries need to make genuine advances to forge strong positions in the competition for sustainable investment.” In addition to statistical analysis, OMFIF gained additional insights by surveying 60 top executives from financial institutions operating across the 17 countries, including banks, investors, securities exchanges, regulators, audit and accounting firms, and international financial and development institutions. About OMFIF The Official Monetary and Financial Institutions Forum is an independent think tank for central banking, economic policy, and public investment – a non-lobbying network for best practice in worldwide public-private sector exchanges. At its heart are Global Public Investors – central banks, sovereign funds and public pension funds – with investable assets of $33.8tn, equivalent to 45% of world GDP. With offices in both London and Singapore, OMFIF focuses on global policy and investment themes – particularly in asset management, capital markets, and financial supervision/regulation – relating to central banks, sovereign funds, pension funds, regulators, and treasuries. OMFIF promotes higher standards, performance-enhancing exchanges between public and private sectors and a better understanding of the world economy, in an atmosphere of mutual trust. SOURCE: https://brandspurng.com/nigeria-places-6th-on-africas-financial-markets-index/ 1 Share
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Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by veekid(m): 6:47am On Dec 19, 2017 |
Even keynya Mehn! Naija is still far away 1 Like |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Emu4life(m): 6:48am On Dec 19, 2017 |
So.......we get hope |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Williamstd9: 6:48am On Dec 19, 2017 |
Transparency,the problem of Nigeria. 6 Likes |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by nkwuocha: 6:48am On Dec 19, 2017 |
Kenya again ?!? Tonybarcanista was right after all. 5 Likes 1 Share |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by CecyAdrian(f): 6:48am On Dec 19, 2017 |
Wow, very commendable |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Osucoward: 6:49am On Dec 19, 2017 |
I can’t argue with number 1-5. I’ve been impressed with Kenya. 6 Likes |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by MakeADifference: 6:49am On Dec 19, 2017 |
92 at the top to 53 at #6 show how faaarrrrr away we are. 4 Likes |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Preator: 6:49am On Dec 19, 2017 |
hmn. so with the largest GDP in Africa, one -fift h of the world black population and one-fourth of the African population, one of the largest proven reserves of oil and gas, Nigeria could only place sixth? 92 to 53? just a single thing keep setting Nigeria backward: Corruption |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Nobody: 6:49am On Dec 19, 2017 |
south Africa is really doing well 4 herself, dat wat u get wen u have a organize country with less corruption 7 Likes 4 Shares |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by CecyAdrian(f): 6:49am On Dec 19, 2017 |
nkwuocha: What's that |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by opeolu202: 6:49am On Dec 19, 2017 |
Nigeria, only things we rank first in is looting common wealth of our people. Set of backward people. shiooor |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by mrvitalis(m): 6:49am On Dec 19, 2017 |
The potential of Nigeria is huge He would over take the likes of France and England if we would just make progress for 10 years |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Nobody: 6:50am On Dec 19, 2017 |
Before 2019, Nigeria will be rank 17... Until then dullard is out 3 Likes
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Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Wisdomkosi(m): 6:50am On Dec 19, 2017 |
Okay |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Osucoward: 6:50am On Dec 19, 2017 |
Williamstd9: Is that really the problem? Corruption Illiteracy Corruption Bad leadership Corruption Uneducated leaders |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Brillantman: 6:50am On Dec 19, 2017 |
This is for NwaAmaipke anywhere he is this morning |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by 9jaDoc(f): 6:50am On Dec 19, 2017 |
9ja should be first considering her giant size. |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by iHart(m): 6:51am On Dec 19, 2017 |
we are coming up |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by deanmartins(m): 6:51am On Dec 19, 2017 |
Nigeria is suppose to Be top of dis list,as Africa largest economy |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Nobody: 6:52am On Dec 19, 2017 |
, 2 Likes
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Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by frankmoney(m): 6:53am On Dec 19, 2017 |
Williamstd9:very true |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by morikee: 6:54am On Dec 19, 2017 |
Biased list all i can see |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by sdindan: 6:54am On Dec 19, 2017 |
Mr. Integrity Buhari I hope u see it That there's no transparency in ur government. Corruption. |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Osucoward: 6:56am On Dec 19, 2017 |
imhotep: Stop lying to the people. PDP is as bad as APC. Their doctor one lead us to today’s nigeria. |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Diablo666: 6:56am On Dec 19, 2017 |
Poor Transparency in market caused by corruption and greed. More aggressive re orientation is quite needed. Hope we ll get a govt that will do that. I like that adesina man. He is quite brilliant and patriotic. Wish to see him as our president some day |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by sdindan: 6:56am On Dec 19, 2017 |
mrvitalis: Wake up bro, stop dreaming 1 Like
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Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Nobody: 6:58am On Dec 19, 2017 |
Osucoward:you are the one deluding yourself. 3 Likes
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Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by BTT(m): 6:59am On Dec 19, 2017 |
1 step forward, several backward. Everybody knows this already, except the APC propaganda machinery that will soon shout that they expected us to be surprised. |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by dfrost: 6:59am On Dec 19, 2017 |
Transparency. Hmmm... |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by Diablo666: 7:00am On Dec 19, 2017 |
sdindan:The article didn't say in government but market. Playing politics with our common benefits won't help please. 1 Like |
Re: Nigeria Ranked 6th On Africa’s Financial Markets Index by dfrost: 7:01am On Dec 19, 2017 |
Diablo666: You see Diablo, no sane man puts his hands into politics and remains the same. Let him keep up with whatever he is doing. Business, market are not the same with politics. I hate politics with a passion. These are the type of people you see in politics: 1. Those that want fame and want to be known in history as the "first man/woman to be blah blah blah..." 2. Greedy fools that do not mind destroying an economy for their sole benefit 3. Those that seek revenge e.g Bush and their family wrt Saddam Hussien Those that have good intentions don't last long. They either run away, leave the office for trouble makers after so much pressure e.g Mandela et al. |
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