The South African bank Rand Merchant Bank (RMB) has just published its 2024 report “Where to invest in Africa?”, an analysis of the continent’s main investment destinations.
Morocco features in the Top 5 of the most attractive countries for investors. The Kingdom is ranked 5th, up one place on its 2023 ranking of 6th. The country is positioned among the “ Global Connectors”. These are the most advanced economies on the continent, with a strong international presence.
“ Morocco’s strong performance in terms of connectivity, innovation, and economic stability positions the country as a top investment destination. Its strategic proximity to European markets adds to its appeal ” , said the authors of the report, drawn up in collaboration with the Gordon Institute Of Business Science (GIBS). Indeed, Morocco’s proximity to Europe and its status as a gateway to Africa make it an attractive destination for investors seeking new markets in which to develop their business. The report goes on to say that “Morocco is a large economy. It has a high degree of economic freedom and a good human development score”. However, says the report, “the country’s economic growth declined from 2021 to 2022”.
The small island economies of Seychelles and Mauritius emerged as the continent’s first and second most attractive investment destinations, out of the 31 countries covered by this analysis, while Egypt, one of Africa’s major economies, came 3rd, followed by South Africa. Surprisingly, Ethiopia is among the “Highflyers”, the continent’s largest economies, but is ranked 13th.
It should be noted that the RMB bank bases its ranking on a series of criteria, including economic performance and potential, market accessibility and innovation, economic stability and investment climate, human and social development.
Over US$1 billion at the end of June
2024 is the year of recovery for foreign investment, after a drastic fall in 2023. The net flow of foreign direct investment (FDIs) stood at over 10.62 billion dirhams (USD 1 billion) at the end of June, up 51.6% with respect to the same period a year earlier, according to the Foreign Exchange Office in its bulletin on monthly foreign trade indicators. Revenues from these investments rose by 8.6%. Expenditure, on the other hand, fell by 21.2% to 7.96 billion dirhams (USD 796 million), according to the Office.
K.S.
