Absa Bank Uganda has trained journalists in an in-depth analysis of the financial markets ahead of the unveiling of the 2021 Africa Financial Markets Index (AFMI) report on Tuesday January 25, 2022.
The training, led by David Wandera, Absa Uganda’s Executive Director and Head of Markets, was aimed at providing a platform for the media to get a better understanding of Uganda’s financial markets.
The index is conducted by Absa Group in partnership with the Official Monetary and Financial Institutions Forum (OMFIF) acts as a guide to be used by policymakers and market participants to promote open, accessible and transparent markets that are best placed to mobilise capital and promote investment on the continent.
It measures the performance of 23 African countries across six pillars, namely: Market Depth; Access to foreign exchange; Market transparency, tax and regulatory Environment; Capacity of local investors; Macroeconomic opportunity and Enforceability of standard financial markets master agreements.
Speaking to the reporters, Wandera said, “The index is a measure of the various factors that would attract investors to Uganda, and the importance of unveiling it here is to bring to light the areas in which we are doing well and those in which we need to improve.”
According to the 2020 AFMI report, Uganda remained in 10th position, the same as the previous year and maintaining a score of 52, mostly attributed to the introduction of a revamped primary dealer system by the Central Bank in September 2019 to spur bond market activity.