REPORT: SA CEDES TO EGYPT AS AFRICA’S MOST ATTRACTIVE INVESTMENT DESTINATION
Rand Merchant Bank’s Where to Invest in Africa 2018 report reveals that Egypt is Africa’s most attractive investment destination. South Africa has fallen from first place for the first time since the inception of the report in 2011, mainly due to sluggish growth rates and mounting concerns over issues of institutional strength and governance.
Key findings from the report include:
- The top 10 countries to invest in Africa are:
(1) Egypt; (2) South Africa; (3) Morocco; (4) Ethiopia; (5) Ghana;
(6) Kenya; (7) Tanzania; (8) Rwanda; (9) Tunisia; (10) Cote d’Ivoire
*Botswana, Mauritius and Namibia are widely rated as investment grade economies, but do not feature in the top 10 due to the relatively small size of their populations
- For the first time Nigeria has not featured in the top 10, with its short-term investment appeal eroded by recessionary conditions and the oil performance setbacks.
- The African continent could find itself hovering on the brink of disaster if it continues to depend on its current economic fundamentals of depending on commodities and does not usher in economic diversification.