Message from AfDB Vice President Charles Boamah

Charles BOAMAH

Vice President, Finance
African Development Bank

The African Development Bank is pleased to present the website of the African Financial Markets Initiative (AFMI).  This website represents a milestone in the AFMI journey – a journey that we believe will complement the many efforts across Africa to help develop and enhance domestic bond markets on the continent.  The dearth of long-term development financing in Africa is well known.  Also well-known and universally acknowledged is the critical importance of viable and deep domestic bond markets to the development of countries.  It is our fervent hope and expectation that AFMI will contribute to making vibrant domestic bond markets a reality in Africa and in so doing help contribute to the attainment of the continents long term development objectives.

AFMI has two main components – an African Financial Markets Database (AFMD) and a proposed African Domestic Bond Fund (ADBF).  The ADBF is expected to contribute to a broadening of the investor base in African domestic bond markets by not only passively investing in, but also tracking the performance of a new African Domestic Bonds Index (ADBI).  The ADBI is a composite of the sub-indices of an initial list of nine African countries selected and agreed upon with all African stakeholders based on pre-defined criteria identified and tested in a feasibility study that was conducted.

We are very grateful for the very useful feedback received from our many stakeholders, including central banks, regulators, Finance ministries, commercial banks and other private sector players.  Such feedback has greatly enriched our work.  All your comments and suggestions have been carefully considered and we are confident that this website will provide you, our stakeholders and African development partners, a one-stop shop for all the country, regional and market based information required to navigate the African fixed income financial markets space.

I would also like to thank our donors and partners, particularly the Canadian International Development Agency (CIDA) and the Fund for African Private Sector Assistance (FAPA), for the generous financial support to AFMI.

We welcome and strongly encourage your ongoing feedback, to ensure that the website is remains relevant and responsive to your needs as users of information on African financial markets.