SA tops financial markets development

Despite slipping five index points, South Africa has claimed top position among 20 African countries in terms of financial markets development.Supplied
JOHANNESBURG – Despite slipping five index points, South Africa has claimed top position among 20 African countries in terms of financial markets development for the third year running.

The Absa Africa Financial Markets Index released yesterday showed that South Africa scored 88 index points, down from 93 out of 100 last year, to retain its top spot.

Absa said that this was mainly because of the country’s sizeable lead in market depth and deep market liquidity anchored by strong domestic investors, compared to other countries.

The index evaluates financial market development in 20 countries and highlights economies with the clearest growth prospects.

Now in its third year, the index was produced by the Official Monetary and Financial Institutions Forum, an independent research think tank for central banking, economic policy and public investment.

Source: iol.co.za