Nigeria, have had introduced products that could be classified as green or sustainable, it added. The 2021 index, which was published by the Official Monetary and Financial Institutions Forum (OMFIF), in collaboration with Absa Group, revealed that this year, there was a 50 per cent decline in the number of countries which scored up to 50 points this year, at seven countries in total.
According to Absa Group’s Interim CEO Jason Quinn, the AAFMI has become a benchmark for the investment community and to the African continent, in order to measure the performance of countries across a host of indicators important for financial market development. “We are extremely proud of the annual report, which has become a critical toolkit for countries seeking to strengthen their financial markets infrastructure. Now in its fifth year, the index records countries’ openness to foreign investment and is an objective indicator of the attractiveness of Africa’s capital markets, intended for use by policy-makers, investors and asset managers around the world,” he added.
