Nigeria has been listed as one of the top financial market leaders in Africa and among 19 African countries that have lifted its performance in 2022 despite the difficult environment.
Consequently, Nigeria, South Africa and Mauritius reportedly maintained their positions in the top three this year on the Absa Africa Financial Markets Index (AFMI), as they continue to score highly on the measures of market depth, transparency and enforceability of legal agreements.
The report also showed that Uganda rose two places to fourth, while Namibia and Kenya improved their ranking within the top 10.
Scores for these three countries rose due to progress in adopting environmental, social and governance (ESG) policies and frameworks, according to the index produced by the Official Monetary and Financial Institutions Forum (OMFIF) in association with Absa Group Limited.
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