Market Atlas Clarifies African Currency Indices For Foreign Investors
Written by Ehidiamhen Okpamen | From Ventures Africa
Market Atlas, LLC (MA) has launched a pair of benchmark indexes, measuring the performance of a basket of African currencies against the U.S Dollar and the United Kingdom Pound Sterling.
The M.A.USD Africa Currency Index and the M.A. GBP Africa Currency Index cover a universe of 27 currencies with an aggregate market of 1.35 billion people and are the first African currency indexes independent of banks and other market participants.
“The strong growth in African economies will see elevated participation from the African middle class. The growth of the African middle class will require increased long-term and sustainable financing of market participants that cater to this market segment, particularly investors in currency, real estate, equity, and bond markets,” said Justin Mahwikizi, Chief Executive Officer of Market Atlas, LLC.
“The M.A. Africa Currency Index series has clear, publicly available index rules, which makes these growing markets more transparent for domestic and international investors, who can use them as reliable benchmarks for managing currency and to some extent sovereign risk.”
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