- South Africa topped the ranking followed by Mauritius, with Kenya placed 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
- Our Manifesto: This is what YEN.com.gh believes in
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 East African economic giant was ranked third behind South Africa and Mauritius with a net score of 65 out of 100 points.
The index highlights 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.
On Wednesday, May 15, Kenya listed a third Eurobond valued at KSh 210 billion increasing the value of its sovereign bonds in the international markets.
The country scaled up its investments in the alternative assets with an estimated KSh 150 billion in pooled assets under the management of Kenyan pension funds that formed the Kenya Pension Fund Consortium.
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 TUKO.co.ke, the Standard Chartered Plc in September 2019 ranked Kenya as the third country globally with the greatest potential for future growth.
ATTENTION: Your favourite news website, YEN.com.gh, has been nominated for online portal of the year by the National Communications Awards. Please click here to vote and help us win.
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.
Ghana News Today: University of Ghana Interdicts Lecturers Caught in BBC’s Exposé | #Yencomgh
Use the comments section below to share your views on this story. Do you have a story to share or you have information for us? Get featured on YEN.com.gh. Message us on Facebook or Instagram