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Egypt and Morocco continue to establish themselves as the best destinations for investment in Africa in 2020, when South Africa was relegated to third place, according to a report by the Rand Merchant Bank (RBM), one of the main investment banks in South Africa.
Morocco comes second after Egypt on the RBM ranking, which highlights that the Kingdom, which is among the top five African economies, continues to achieve significant results in terms of economic growth and climate improvement Business.
The Gross Domestic Product (GDP) of Morocco will have to achieve an average growth of 4 pc annually over the medium term, indicates the bank in its report: “Where to Invest in Africa 2020” (Where to invest in Africa 2020).
According to the financial institution, the improvement in the business climate in Morocco has helped the country in particular since 2011, when a wave of protests swept through certain countries in the Middle East and North Africa region.
The South African bank, on the other hand, stressed that the return of Morocco to the African Union, recorded during the summit of the pan-African organization held in January 2017 in Addis Ababa, has increased the attractiveness of the Morocco with international investors.
Returning to the case of South Africa, once the main continental economic power, the RBM noted that the rainbow country continues to lose points due to weak economic growth.
Despite this situation, South Africa maintains one of the strongest financial sectors on the continent, says the Bank.
On a continental level, the RBM notes that South Africa, Ethiopia and Tanzania are the countries that lost the most in the ranking of the year 2020.
