African financial markets improve

Over the past year, most African financial markets have shown progress, driven by better economic conditions, higher foreign exchange reserves, and improved transparency. This development is highlighted in a new ranking released by the South African financial services group Absa Group and the Forum of Monetary and Financial Institutions (OMFIF).

South Africa leads the continent

According to the "Absa Africa Financial Markets Index 2026," South Africa has the most attractive financial market on the continent, scoring 85 points. It ranks first in three out of six categories: fiscal and regulatory environment, market depth, and access to foreign currencies.

Other top performers

Mauritius holds the second position with 77 points, followed by Namibia with 71 points. Uganda, Kenya, and Ghana round out the top five. The index evaluates 29 African countries, covering 80 percent of the continent's population and GDP.

Progress and challenges

While many countries improved their scores compared to 2025, others saw declines. Cape Verde, Ghana, and the Democratic Republic of Congo made the most progress. Meanwhile, Botswana, Nigeria, and Rwanda experienced the largest drops in their rankings.

Index criteria and methodology

The index uses 29 indicators across six categories, including market depth, access to foreign currencies, legal standards, and macroeconomic conditions. These indicators are based on public data and surveys with over 40 financial institutions and regulators.

Africa's carbon finance initiative

A separate report mentions a 100 million dollar fund aimed at financing carbon projects in Africa before they generate their first revenues. This initiative seeks to support early-stage environmental projects in the region.

Zimbabwe's El Niño preparedness

Zimbabwe has announced plans to allocate 500 million dollars to prepare for the potential impacts of the El Niño weather phenomenon. This includes measures to support vulnerable regions in East and southern Africa.

Ethiopia's humanitarian aid

The United Nations has released 8.5 million dollars in humanitarian aid for northern Ethiopia, where renewed fighting has increased the need for assistance. Over 8.9 million people are affected by the conflict and its consequences.

Guinea's SME financing

In Guinea, the Vista Group has secured 22.4 million dollars from the Asian Development Bank to support small and medium enterprises. This follows an estimated 21.5 percent gap in financing for these businesses in the country.

Côte d'Ivoire's cybersecurity efforts

In Côte d'Ivoire, Orange is focusing on raising awareness to improve corporate cybersecurity. The company is addressing evolving threats, including those related to artificial intelligence, through training and employee education.

West African art project

The Ellipse Art Projects 2026 initiative showcases the work of a new generation of artists from West Africa. Created in 2021, the Elipse Prize highlights emerging contemporary artists who need greater recognition and support.