African Financial Systems: A Review
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, The authors 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.