Kenya, Tanzania Top EAC Investment Markets-ABsa

Maramla

JF-Expert Member
Jan 8, 2014
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Reforms going on in Kenya under President Kenyatta and Tanzania under Dr. John Magufuli are yielding unprecedented results.

While Kenya leads the EAC, and fourth in Africa, Tanzania is the second in the region and 7th Africa wide, says the 2019 Absa Africa Financial Markets Index.

The government of Tanzania in particular has attracted more investors due to its economic, social and political stability and above all the transformative leadership of Dr. Magufuli.

Moreover, Tanzania has embarked on a wide ranging reform program since the mid-1990s in order to provide an enabling business environment that would facilitate the development of the private and foreign investors.

Although the recent Easy of Doing Business Report indicate that Tanzania jumped only 3 places from 144th in 2018 to 141 in 2019, in the investment markets index the country consolidated its position from 15th last year to 7th this year.

In the category, other EAC countries like Rwanda are trailing Tanzania and Kenya as Rwanda is ranked 9th and Uganda on number 10.

During research, respondents said regulatory clarifications have been helpful. In Tanzania, the microfinance bill passed late last year formalises rules around micro-savings, small loans to households and small businesses, and micro-insurance.

The index scores each country based on six pillars: market depth; access to foreign exchange; market transparency, tax and regulatory environment; capacity of local investors; underlying macro opportunity; and the legality and enforceability of standard financial markets master agreements.

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group has a presence in 12 countries in Africa, with approximately 42,000 employees.
 

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