By Stuart Bogere
Economy experts have described Uganda’s economy is stable and resilient for 2020. This according to Africa Financial Markets Index 2020 conducted by Absa Group and Official Monetary and Financial Institutions Forum (OMFIF).
This was aimed at gauging financial markets performance of selected countries and Uganda was ranked 10th, the same position the country held the previous year.
While launching the virtual AFMI 2020 report last week Absa Bank Uganda hosted industry experts to an Economic Outlook Forum to discuss the Africa Financial Markets Index for 2020.
The Managing Director of Absa Bank Uganda Mumba Kalifungwa, said the Absa Africa Financial Markets Index helps unpack market opportunities across various markets on the continent.
Kalifungwa says that Absa gives insights into the market opportunities, the strength of capital markets and the strength of foreign exchange.
He adds that currently only 23 markets are participating in the index Uganda inclusive and Uganda has been ranked 10th for the second consecutive year.
However according to Deputy Governor Bank Of Uganda Dr. Michael Atingi-Ego, said that the AFMI report will act as a guide investors as well as policy makers in financial markets.
Through measure of openness, transparency, and accessibility of financial markets, the AFMI measures exactly what matters for building the critical framework for investor decision making and thus enhancing confidence in the investment destinations.
He adds that this provides a vital benchmark to guide policymakers and regulators in closing the gaps in the African financial markets.
Meanwhile Daniel Mminele the Chief Executive at Absa Group, retarelates the will continue to guide policy makers, and financial market participants and to promote accessibility, open and transparent markets in Africa.