It has allowed the development of a benchmark yield curve, which will go live to-day at noon London time. The yield curve will enhance price discovery for a range of money market instruments and other corporate bonds.
Measuring financial development is quite challenging and we recognize the effort required to put up an index to gauge the impact of financial intermediation on real economic activity. We welcome the initiative and effort of both ABSA and OMFIF. The Africa Financial Markets Index provides a toolkit for countries seeking to strengthen their financial markets infrastructure.