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West Africa
Three West African markets , Ghana , Ivory Coast and Nigeria , received ratings this year , accounting collectively for 13 % of responses received for the ABFM survey . Of these , Ghana and Nigeria accounted for somewhat over a third each and Ivory Coast roughly a quarter . Whereas in 2020 , category scores varied widely with a number considered weak , they appear to have improved almost across the board and the gaps between category scores have narrowed . All are now comfortably in Good range ( 5.00-5.99 ). Over 40 % of respondents for the region consider the Relationship Management and Client Service they receive to be Excellent ( 7.00 – the highest possible score ). Standard Chartered and Stanbic received the bulk of responses across the region as a whole , the former receiving roughly two-thirds of the ratings , although both Citi and Société Générale Securities Services ( SGSS ) were represented in the response pool . In 2019 , SGSS launched a depository service for the West Africa Economic and Monetary Union ( WAEMU ) – covering most of the francophone markets in the region – for WAEMU based mutual funds . Standard Chartered meanwhile launched Bond Trustee Services in Ghana last year to support asset issuers in the administration of various asset servicing functions across the lifecycle of capital markets fund raising . It claims the largest share of custody in the region for foreign clients . According to the 2020 ABSA / OMFIF Financial Markets Index , Ivory Coast has one of the brightest growth outlooks and is one of five countries where economic growth has averaged above 5 % over the last five years . Ghana has made the Global Master Repurchase Agreement mandatory for repos and introduced rules to enforce close-out netting . Nigeria meanwhile ranks third in the index with firmer close-out netting rules set to boost its repo and derivatives markets .
Regional scores West Africa 2021 Previous year Difference Account Management 5.67 3.68 1.99 Asset Safety 5.68 5.32 0.36 Asset Servicing 5.81 5.46 0.35 Cash Management and FX 5.50 6.37 -0.87 Client Service 6.08 4.98 1.10 Liquidity Management 5.88 n / a n / a Pricing 5.28 4.11 1.17 Regulation and Compliance 5.70 5.52 0.18 Relationship Management 5.77 3.41 2.36 Risk Management 5.63 4.71 0.92 Technology 5.17 4.47 0.70
Market scores Ghana Ivory Coast Nigeria Account Management 5.86 ( 84 %) 5.67 ( 81 %) 5.55 ( 79 %) Asset Safety 5.50 ( 79 %) 5.50 ( 79 %) 5.91 ( 84 %) Asset Servicing 5.56 ( 79 %) 6.00 ( 86 %) 5.92 ( 85 %) Cash Management and FX 5.14 ( 74 %) 5.60 ( 80 %) 5.70 ( 81 %) Client Service 6.29 ( 90 %) 5.67 ( 81 %) 6.18 ( 88 %) Liquidity Management 6.00 ( 86 %) 5.75 ( 82 %) 5.83 ( 83 %) Pricing 5.20 ( 74 %) 5.00 ( 71 %) 5.44 ( 78 %) Regulation and Compliance 5.71 ( 82 %) 5.60 ( 80 %) 5.73 ( 82 %) Relationship Management 5.88 ( 84 %) 5.67 ( 81 %) 5.75 ( 82 %) Risk Management 5.71 ( 82 %) 5.60 ( 80 %) 5.57 ( 80 %) Technology 4.89 ( 70 %) 5.50 ( 79 %) 5.25 ( 75 %)
Provider scores ( Regional ) West Africa 2021
Standard Chartered Bank
Account Management 5.67 5.85 0.18 Asset Safety 5.68 5.81 0.13 Asset Servicing 5.81 5.83 0.01 Cash Management and FX 5.50 5.53 0.03 Client Service 6.08 6.15 0.07 Liquidity Management 5.88 6.00 0.13 Pricing 5.28 5.41 0.13 Regulation and Compliance 5.70 5.85 0.15 Relationship Management 5.77 5.82 0.05 Risk Management 5.63 5.81 0.18 Technology 5.17 5.00 -0.17
Versus regional average
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