IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

African Financial Systems: A Review

Listed author(s):
  • Allen, Franklin

    (University of PA)

  • Otchere, Isaac

    (Carleton University)

  • Senbet, Lemma W.

    (University of MD)

Africa is a continent made up of 53 countries. The continent is economically and culturally diverse, with different regional economic blocs. The financial systems in these countries are as diverse as the countries. Reviewing the financial systems of such a heterogeneous group of countries presents a challenge. Therefore, to make the review more concise, we categorize the countries along geographic lines into four groups, namely, Arab North Africa, West Africa, East and Central Africa, and Southern Africa.1 This review covers, among other things, a brief review of the economies, central banks, deposit-taking banks, non-bank institutions, such as the stock markets, fixed income markets, and microfinance institutions in Africa. In this section, we present an executive summary of the African financial systems, highlighting some of the investment opportunities that exist, and then proceed with an in-depth review of the current state of the financial systems of the various sub-groups in Africa. In section II, we review the financial systems in North Africa. The financial systems in West Africa are reviewed in Section III, while those in Central and East Africa are reviewed in Section IV. In Section V, we examine the financial systems in Southern Africa. We conclude with a brief discussion of the risks that potential investors should be concerned about in Section VI.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by University of Pennsylvania, Wharton School, Weiss Center in its series Working Papers with number 10-11.

in new window

Date of creation: Mar 2010
Handle: RePEc:ecl:upafin:10-11
Contact details of provider: Postal:
3404 Steinberg Hall-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104-6367

Phone: (215)898-7626
Fax: (215)573-2242
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ecl:upafin:10-11. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.