A new report published by the Rand Merchant Bank has revealed the top ten countries in Africa to invest in. The report talks of how the regional stalwarts have failed to adapt the prolonged slowdown in commodity prices and sluggish levels of production growth.
The top ten report on the most attractive countries to invest in shows some apparent omissions, notably Algeria and Nigeria. Significant improvements have been made by countries such as Tanzania, Ethiopia and Rwanda.
Here is the top ten list for the most attractive countries to invest in (ascending order):
Egypt is now currently enjoying the cushy first position place, a place that was previously held by South Africa. Thanks to a diversified economy, large population, and a superior economic activity score, Egypt is the number one country to invest in Africa.
2. South Africa
Several setbacks have slowed down South Africa’s GDP growth, but it still remains an attractive place for doing business. There has been regression in terms of institutional strength and good governance, but the country’s overall economic scores have been strengthening on a yearly basis.
For a third successive year, Morocco has retained it’s same position. Talk of the country that placed its bid to host the 2026 FIFA World Cup. Since the Arab Spring, a vibrant operating environment has served Morocco well. So yeah, it’s safe for you to go do business there.
Okay, so here is the irony you may think of when you see Ethiopia mentioned in this list: The socio-political instability that plagues the country. Well, despite that, the country continues to register rapid economic growth rates, and boasts the largest economy in East Africa. Its market figures also boasts impressive figures. You could say that attracts a lot of business.
Ghana has the fastest-rising economy in Africa, and thus makes the cut too for one of the countries to invest in. However, there have been lingering perceptions of worsening corruption and weaker economic freedom. Economic growth is picking up under the new political dispensation.
Kenya is one of the best place to make investments in East Africa. Credit must be given to its diverse economic structure, pro-market policies and brisk growth in consumer spending, factors that attract investors.
Tanzania is making huge improvements in this regard. The anti-corruption drive in the country is a contributory factor thrusting Tanzania into the top ten. It has a good operating environment.
It’s safe to say good economics have made Rwanda what it is now. The small East African economy continues to improve its business environment each year and is still one of the fastest-reforming economies in the world.
Tunisia completes the number of North African countries featured in the rankings. Tunisia is making some good improvements, and can even get to the eighth position.
10. Cote d’Ivoire
The country was also included as one of the fastest-rising economies in Africa. And for certain, business is coming to the West African country.
By Takudzwa Hillary Chiwanza
The Express News