Paper Title
Financial Market Integration of Five African Countries

Abstract
The Purpose of this study is to provide financial integration of five promising economies in Africa region namely South Africa, Tunisia, Mauritius, Zambia, and Egypt. To examine the integration the study utilizes The study utilizes the GARCH model by using co- integration and Granger’s Causality Test using Monthly stock market a time series data covering the period from 1998-2015. The results of empirical analysis show that some countries market integration other four regional markets similarly some others that have not been integration financial market, the analysis also shows that financial integration was particularly this five counties relation each other either direct or indirect. So that this study recommends to develop financial policies also inspire innovation, encourage healthy competition among market operators and foster the overall development of the financial system.The study is limited to only 5 countries in African although there are 54 countries in the Africa. Keywords - Financial Integration, Financial Institution, Africa and Financial Market. Contribution/originality - This study is one of very studies which have examined in South Africa, Tunisia, Mauritius, Zambia, and Egypt from 1998-2015. The applied GARCH model by using co- integration and Granger’s Causality Test. the main findings are consistent with previous studies on this subject.