Across the continent, different economies have registered varying degrees of success in developing their financial markets. Last month, Barclays Africa released its first annual financial markets index, which will be evaluating developments in African markets and offering investors a chance to benchmark the state of their local financial markets against peers in Africa. The index evaluated 17 African economies along six pillars of market depth, access to foreign exchange, market transparency/tax and regulatory environment, capacity of local investors, macroeconomic opportunity and legality/enforceability of standard financial markets master agreements. The index ranks Kenya third in this pillar, just behind South Africa and Mauritius. Participation in the foreign exchange market is also largely dominated by about five banks.

Source: Daily Nation February 01, 2018 09:22 UTC