Zambia moves up one point on ABSA Africa Financial Market

Zambia has in 2018 moved up one point on the ABSA Africa Financial Market (AFM) Index to 8th place from 9th position in 2017.

This is out of 20 Countries in the region that are measured by the Index.

Presenting the findings of the AFM index ABSA Chief Economist Jeff Gable explained that the index looks at providing a toolkit for African countries looking to strengthen their financial markets structure.

Mr. Gable says index is aimed at encouraging open, transparent and accessible financial markets that are attractive for domestic and foreign savings through which investment into Africa can be realized.

He says Zambia, Botswana, Kenya and Nigeria have thus moved up the ABSA AFM index whilst South Africa remains on top position, supported by strong market infrastructure and a robust legal framework.

Mr. Gable notes that Zambia however scored specific performances by moving to the 6th place in terms of market depth and 5th place in terms of access to foreign exchange.

He says the Country was, on the other hand, in the 14th place in terms of market transparency, tax and regulatory environment.

Earlier, Barclays Bank Zambia Managing Director Mizinga Melu noted the contribution the AFM index has on ensuring investors have information that will help to add to the growth of the Zambian economy.