As it does every year, Absa Africa Financial Markets has published its Absa Africa Financial Markets Index, a ranking that assesses the performance and attractiveness of financial markets across the African continent.
Several criteria are taken into account to establish this ranking: financial stability, the quality of corporate governance, compliance with reporting standards, and the tax environment.
The index also examines the transparency of financial information, the implementation of environmental, social, and governance (ESG) standards, and the presence of credit rating agencies.
Tunisia maintains its 18th place
For the 2025 edition, out of the 29 African countries evaluated, Tunisia ranks 18th with an overall score of 44, identical to the previous year.
In detail, the country scores 46 for market depth, 51 for access to foreign currency, 57 for the macroeconomic environment and transparency, while legal standards and their enforceability are weaker, with a score of 25.
The weakest point remains the development of pension funds, with only 17 points. Conversely, Tunisia stands out in market transparency and the tax and regulatory environment, where it achieves a score of 70.
The report comments on Tunisia’s overall situation as follows: “Positive progress in pension fund systems.”
For the continent as a whole, South Africa remains the most developed financial market in Africa, with a score of 86 points, standing out for its market depth, advanced regulation, and transparency. It is followed by Mauritius (76 points), Uganda (66), Nigeria (65), and Namibia (64).
In North Africa, Morocco presents itself as the most developed financial market, ranking 8th with a score of 56 points, despite some limitations in legal standards and their enforceability.
Egypt is in 11th place with 54 points, while Algeria, Libya, and Mauritania are absent from the ranking, primarily due to a lack of reliable data and financial systems that are not sufficiently structured to be evaluated according to the index’s criteria.
It is worth noting that among the 29 financial markets evaluated this year, only 13 surpassed the 50-point mark out of 100.
