- A new report by Rand Merchant Bank has highlighted the most attractive places to invest in Africa
- The report lists Seychelles, Mauritius, and Egypt rank first and third, respectively on the list
- Nigeria appears on the list and is ranked 29th in market accessibility and innovation
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
African nations have a lot to offer in terms of natural resource endowment, a young, healthy population, and prospects for infrastructure development to draw in outside capital.
Source: Getty Images
According to a new analysis from Rand Merchant Bank titled “Where to Invest in Africa,”
Seychelles, Mauritius, and Egypt rank first, second and third, respectively, among the 31 most attractive places to invest in Africa.
The top ten African nations in which to invest in 2024 are listed below;
Seychelles
The Seychelles was listed as the most investable location in Africa. The nation of the archipelago, which has one of the worst economies on the continent, led in metrics measuring human development, personal freedom, lack of corruption, and connectivity.
Mauritius
In terms of human and social development, economic stability, and investment climate, Mauritius came in next. It is placed 23rd in terms of economic performance and potential and 3rd in terms of market accessibility and innovation.
Egypt
Egypt placed first in terms of economic performance and potential despite finishing third overall. However, it came in at number five for innovation and market accessibility, number twenty-third for economic stability and investment climate, and number thirteen for social and human development.
South Africa
The fourth-best African nation for investments in 2024 was South Africa. It came in first in terms of innovation and market accessibility, fifth in terms of economic performance and potential, seventh in terms of investment climate and economic stability, and 29th in terms of social and human development.
Morocco
The fifth-best place in Africa to invest is Morocco. Additionally, it was ranked fifth in terms of human and social development, second in terms of economic stability and investment climate, 27th in terms of market accessibility and innovation, and 25th in terms of economic performance and potential.
Ghana
Ghana ranks third on the social and human development index, making it the sixth most investable nation in Africa. It came in at number eight for investment climate and economic stability, number six for market accessibility and innovation, and number fifteen for economic performance and potential.
Tunisia
Tunisia was ranked 26th in terms of economic performance and potential, 5th in terms of social and human development, 14th in terms of economic stability and investment climate, and 2nd in terms of market accessibility and innovation.
Senegal
In terms of social and human development, Senegal came in at number nine. It came in at number 12 for investment climate and economic stability, number 29 for market accessibility and innovation, and number 2 for economic performance and potential.
Nigeria
Nigeria is ranked 29th in market accessibility & innovation, 2nd in economic performance & potential, 15th in social & human development, and 21st in economic stability & investment climate.
Algeria
Algeria was listed as Africa’s tenth most investable nation. It came in at number four on the Human and Social Development Index, number twenty-four on the Economic Stability and Investment Climate Index, number nine on Market Accessibility & Innovation, and number seven on Economic Performance & Potential.
FG speaks on investment opportunity
Legit.ng reported that the federal government of Nigeria has guaranteed investors and important players that their capital market assets will be protected, even in the face of the country’s economic turbulence.
Adebayo Edun, the minister of finance and coordinating minister of economy provided the guarantee on Wednesday at the Kano Hybrid Sensitization Seminar on Investments and Securities Tribunal (IST).
The minister emphasised the importance of the capital market in raising funds for economic growth and social infrastructure, and he affirmed the administration’s resolve to bolster investor confidence.
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Source: Legit.ng