- South Africa topped the ranking of investment market locations on the continent, followed by Mauritius and Kenya at number three
- The ABSA Africa Financial Index highlights economies with the clearest growth prospects in Africa
- The report attributed the country’s high position to substantive issuance of government debt instruments to investors
South Africa and Mauritius took the top two spo with a nett scores of 65 out of 100 points.
Kenya has retained its position as the third most attractive market for investments in the continent for the second year running, according to a new report published by Africa Financial Markets Index 2019.
The index highlighted economies with the clearest growth prospects in Africa.
It assessed countries according to six pillars: market depth, access to foreign exchange, tax and regulatory environment and market transparency, capacity of local investors, macroeconomic opportunity, and enforce-ability of financial contracts, collateral positions and insolvency frameworks.
The report attributed Nairobi's high position to substantive issuance of government debt instruments to investors in 2018, including new sovereign bond listings.
According to the report, South Africa tops the index largely due to its size-able lead in the market depth pillar with a perfect 100 per cent score.
Botswana, Kenya and Namibia joined the ranks of countries that scored over 50 in market depth with others including Nigeria, Mauritius and Ghana.
In a related news story reported by Briefly.co.za, the Standard Chartered Plc in September 2019 ranked Kenya as the third country globally with the greatest potential for future growth.
The trade 20 index said while existing trade powers such as China and India continue to rapidly improve their potential, smaller trading nations like Kenya were making swift progress towards increased trade growth.
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