Morocco ranks second in the list of the most attractive African countries for investment in 2020 behind Egypt, according to report “Where to invest in Africa” just released by the South African financial group Rand Merchant Bank (RMB).
Despite a rather gloomy business climate at the national level, foreign investors are expected to rush to Morocco in 2020. This is reflected in the 9th edition of the “Where to invest in Africa” report, which has just been published by the South-South financial group African Rand Merchant Bank (RMB). The kingdom is seized, indeed, of the second place in the list of the most attractive African countries for the investments in 2020, thanks to an average growth of 4% envisaged in the next years. Our country is well ahead of South Africa, which is experiencing a sharp slowdown in its economy. Egypt, unchallengeable for three years, remains in first place in this ranking.
The first place of Egypt in suspension?
However, things could quickly change as Egypt faces anti-government and anti-Sisi demonstrations, which took place this Friday, September 20 in Cairo, but also in other countries. This could impact the business climate and, as a result, the attractiveness of the country for investment. In fact, among the indicators that favor this placement of Egypt are political stability, an important African country demographic market and the continuous improvement of its business environment and the industrialization policy put in place by the government, according to the report.
Behind this leading trio emerge respectively Kenya, Rwanda, Ghana and Ivory Coast. The last three places in this top 10 are occupied by Nigeria, Ethiopia and Tunisia.