Legality and Enforceability of Standard Financial Markets Master Agreements
The index the top 5 African countries as follows:
South Africa – Deep market liquidity anchored by strong domestic investors
Mauritius – Sizeable pool of investible pension assets with strong legal framework
Kenya – Sovereign bond listings enhance asset pool
Namibia – Wide range of financial products available but low market turnover
Botswana – Drop in pension assets reduces local investor capacity
Among other countries that were highlighted in the report include Nigeria which dropped in ranking due to its multiple exchange rate reporting which has weakened robust performance across pillars and Ghana which offers an attractive tax environment but low wholesale foreign exchange market turnover.
South Africa has retained the top position from 2018 index due to its impressive market depth, market transparency, tax, and conducive regulatory environment.
When it comes to favorable financial regulation, the top 7 countries were ranked as follows:
The countries outperformed the rest in specific areas:
South Africa – It has the largest market capitalization which is triple the size of its economy followed by Botswana with 204% of its GDP
Ghana – Received a near-perfect score for its tax regime which is broadly viewed as favorable
Egypt – Outperforms all other African countries in both economic and expert growth
Mauritius – Takes the top African top spot for having a strong insolvency regime with widely recognized internationally-accepted and enforceable master agreements
Seychelles issues the world’s first sovereign blue bond
Mauritius established a multi-commodity spot and derivatives trading platform and clearing house
The Johannesburg Stock Exchange launched a Nasdaq clearing platform for equity and currency derivatives markets
400% over-subscription of Nigeria’s first 30-year government bond issued earlier in 2019
Ethiopia announced plans to launch a stock exchange by 2020
The Dar-Es Salaam Stock Exchange named a full member of the World Federation of Exchanges
The new report reaffirms earlier studies which show that South Africa, Mauritius, and Nigeria as among the top African countries that offer favorable regulation in the blockchain and crypto space and are likely to continue becoming the preferred destinations for these investments.
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