Rand Merchant Bank’s (RMB) recently released ‘Where to Invest in Africa 2018’ report reveals interesting changes in its ratings of the continent’s most attractive investment destinations. Not only have Nigeria and Algeria dropped out of the top 10 (moving to positions 13 and 15 respectively), South Africa has surrendered its first place position to Egypt, now Africa’s most attractive investment destination.
The report shows that Morocco retained its third position for a third consecutive year, while Ethiopia displaced Ghana to take the fourth place spot. Kenya holds firm at number six, while Tanzania is up two places, at number seven. Rwanda re-entered the Top 10 after spending two years on the side-lines, and Tunisia eased into ninth place. Cote d'Ivoire rounds out the top 10, despite having slipped down two spots.
This is the first time that Nigeria failed to make it into the top 10, although Uganda is steadily closing in on a position in these rankings. And while Botswana, Mauritius and Namibia are widely rated as investment-grade economies, the relatively small size of their markets is the reason they fail to appear in the top 10.
The top 10:
- Egypt
- South Africa
- Morocco
- Ethiopia
- Ghana
- Kenya
- Tanzania
- Rwanda
- Tunisia
- Cote d'Ivoire
