Ghana has been ranked 7th in the maiden Africa Financial Markets Index released Thursday, December 14, 2017.

The Index ranks the maturity, openness and accessibility of 17 markets in Africa based on both qualitative and quantitative criteria. It focuses on six fundamental pillars of financial market performance in the areas of market depth, access to foreign exchange, capacity of local investors, market transparency and regulations among others.

The index reveals Ghana is showing signs of progress.

The Head of Research at Barclays Africa, told Starr Business Ghana must take some critical steps to improve its ranking in the next report. The index also shares results of a survey conducted with 60 key institutions operating throughout Africa, accumulating their views on market conditions and the regulatory framework of the African economies covered in the report.

Key report findings

– The Index finds that South Africa, Mauritius and Botswana lead African countries by displaying openness for capital markets transactions and direct investment. – Development in financial market depth is important for commodity exporters as they seek to diversify their economies to new sectors. – Other countries are growing fast from a low base. Ethiopia has outperformed other countries in GDP growth prospects and is projected to grow fastest among the African countries studied in the report.

Below is the league table: