African economies are facing the double challenge of revitalizing their financial markets while strengthening infrastructure through technological innovation and investments strategic. Nonetheless, nineteen financial markets have improved their performance to be among the most developed on the African continent.

A report was published on 13 October 2022 by the South African financial services group Absa Group and the Official Monetary and Financial Institutions Forum (OMFIF), an SP& think tank Eacute; specialized in the field of finance and public investment, showing the performance of certain financial markets despite the crises that are shaking the whole world. Indeed, the Absa Africa Financial Markets Index 2022 ranking is based on more than 40 indicators grouped into six categories. These include market depth, access to foreign currencies, the fiscal and regulatory environment and market transparency, the capacity of local investors, the macroeconomic environment, and legal standards and their enforceability.

In reality, the South African financial market scored 88 points in this ranking, which rates 26 African financial markets on a scale of 0 to 100 points. Mauritius de Son came second in the overall ranking, with a score of 76 points, ahead of Nigeria (69 points). According to the managing director of Absa Group, Arrie Rautenbach, “The number of countries scoring above 50 in the index has doubled since our first edition in 2017, and the gap between the top three and the middle of the peloton has narrowed considerably. Impressively, 19 countries improved their performance in 2022 in a challenging environment.”