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EY: Morocco still in the Top 3 of attractiveness in Africa

Ernst & Young (EY) unveils the results of the new edition of its barometer dedicated to the Attractiveness of Africa.

The famous international auditing and consulting firm recently published its African Attractiveness Index. Also, in this balance sheet of Foreign Direct Investments (FDI) received during the year 2018 by the black continent, Morocco comes in second place tied with South Africa and a gross flow of FDI of 5 billion dollars each (nearly MAD 50 billion), behind Egypt which claims a total FDI of 10 billion dollars (almost MAD 96 billion).

Admittedly, this represents a slight retreat compared to the previous edition where it had risen to the top of the ranking, ahead of Kenya and South Africa, but the Kingdom has made a notable advance (by practically doubling the flows drained last year) and by preserving its place on the podium behind the land of the pharaohs which continues to reap the fruits of the reforms implemented in recent years and intended to improve the business climate and strengthen competitiveness of the new country, including a new investment code adopted in 2016.

Overall, FDI to Africa remained stable compared to 2017, with 710 projects carried out in 2018 (compared to 655 in 2017). They helped create 117,000 jobs and attracted a capital amount of $ 75.5 billion in 2018.

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