Ghana ranked joint 6th in 2026 Absa Africa Financial Markets Index
Zambia benefitted from an increase in its outstanding sovereign bonds, while Ghana’s turnover in the fixed income market and corporate trading rose. However, some vulnerabilities remain.
Ghana and Botswana share the 6th position in the 2026 Absa Africa Financial Markets Index (AFMI), with a score of 64. This improvement comes from significant gains in equities and companies listed on the Ghana Stock Exchange. South Africa remains at the top with a score of 85, up from 83 in 2025, thanks to reforms in inflation targeting and price marking.
Mauritius, Namibia, Uganda, Kenya, Zambia, and Zimbabwe also make the top 7, with scores of 77, 71, 68, 65, 68, and 65 respectively. The report highlights an overall improvement in the macroeconomic environment across the region, with all 29 AFMI countries showing stronger GDP growth scores. This has boosted investor confidence and supported increases in market size, depth, and liquidity.
However, issues like Zimbabwe, Malawi, and Ethiopia remaining in debt distress and liquidity constraints persist. Over the past decade, the AFMI has assessed financial development in African countries based on market accessibility, openness, and transparency. Supported by the United Nations Economic Commission for Africa, the index serves as a benchmark for measuring how progress enhances investment appeal and promotes economic resilience.
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