Africa, a continent undergoing rapid financial change, reveals a diversity of markets from which the Democratic Republic of Congo seems to be lagging behind according to the annual report “Absa Africa Financial Markets Index 2023”. Ranked 25th out of 28 countries studied, the country displays indicators below its African peers.
This report, the result of the collaboration between the Absa Group and the Official Institute of Monetary and Financial Institutions (OMFIF), highlights the performance of African financial markets across six categories of key indicators. From market depth to the macroeconomic environment through transparency and regulation, each criterion contributes to assessing the level of development of financial markets.
At the top of this ranking, South Africa maintains its position as undisputed leader. Mauritius, Nigeria, Uganda and Namibia complete the top five, posting honorable scores in the African financial panorama.
However, notable developments should be noted, such as the progression of Botswana which gained two places, or the notable entry of Tanzania into the top ten. Conversely, countries like Egypt and Ivory Coast are losing ranks, illustrating the changing dynamics of financial markets on the continent.
This report thus underlines the importance for African countries to strengthen their financial and regulatory environments to attract more investments and promote their economic development. An invitation to reflection and action for financial and government actors wishing to position their countries among the major players in the African economy.
In conclusion, this report highlights the diversity and challenges of African financial markets, offering avenues for reflection for harmonious and sustainable development of the continent’s economy. A valuable roadmap for meeting challenges and seizing opportunities in a constantly evolving financial context.