Its purpose is to provide the investment community with a benchmark of market infrastructure across the continent and equip policymakers with insights from developments throughout Africa.
In line with this improved ranking, Rwanda listed its first domestic sustainability-linked bond in September 2023.
Additionally, the country introduced new climate-related financial regulations that reflect its commitment to environmental, social, and governance (ESG) principles.
These developments contributed to a three-point increase in Rwanda's overall score to 47 from 44 in 2023 scores.
Now in its eighth year, the Absa Africa Financial Markets Index, produced by OMFIF in association with Absa Group Limited, evaluates the financial development of 29 African nations, offering valuable insights and benchmarks for investors. It serves as a key resource for understanding market infrastructure while enabling policymakers to learn from key trends across the continent.
Commenting on the ranking, the Chief Executive Officer of the Capital Market Authority of Rwanda, Thapelo Tsheole noted; "Rwanda has fully embraced ESG principles, reflected in our recent listings in this category. We remain committed to continuous improvement, and our financial sector is poised for further growth. Work is already underway to improve Rwandan ranking."
The annual index ranks the maturity, openness, and accessibility of 29 African financial markets based on qualitative and quantitative criteria. It emphasizes the development of local investor capacity and enhances the ability to attract foreign capital.
The Absa Africa Financial Markets Index highlights significant investment opportunities and reveals untapped market potential through expert analysis of Africa's financial landscapes.
The index is structured around six fundamental pillars of financial market performance: Market Depth; Access to Foreign Exchange; Market Transparency and Regulation; Pension Fund Development; Macroeconomic Opportunity; and Enforceability of International Financial Agreements.
IGIHE
Source : https://en.igihe.com/news/article/rwanda-rises-in-the-2024-absa-africa-financial-markets-index
