Absa Africa Financial Markets publishes its annual index analyzing the performance of financial markets across the continent. The Absa Africa Financial Markets Index evaluates the financial development of countries based on measures of accessibility, openness, and transparency of markets.
In 2024, Tunisia is now ranked 18th in Africa with a score of 44, gaining one place compared to the previous edition. To determine country rankings, the assessment considers several criteria, including regulations on financial stability, corporate governance, reporting standards, and the tax environment.
The index takes into account the transparency of financial information, environmental, social, and governance (ESG) initiatives and standards, as well as the presence of credit rating agencies.
At the continental level, South Africa remains the leader in financial markets, with a score of 87, followed by Mauritius with a score of 77.
Nigeria ranks third with 64, while Uganda and Namibia secure the fourth and fifth positions with scores of 63 and 61, respectively. Notably, this top 5 has remained unchanged compared to the previous year.
Regarding Tunisia’s neighboring countries; Morocco maintained its position, ranking 9th with a score of 57, while Egypt is in 11th place with a score of 55.
The index is built on six main pillars, which assess the accessibility and transparency of financial markets across the continent.
These include market depth (liquidity and size), access to foreign exchange, market transparency and regulation, pension fund development, macroeconomic opportunity and enforceability of international financial agreements.
