Egypt has emerged 2021’s most attractive market for investment in Africa, with Morocco and South Africa coming closely at 2nd and 3rd position respectively according to reports from Rand Merchant Bank (RMD).
other countries that made it to the top ten list include Rwanda, Botswana, Ghana, Mauritius, Côte d’Ivoire, Kenya, and Tanzania.
The report highlights a trend amongst investors willing to bypass traditional markets in Africa in favour of smaller states with economic hygiene.
According to RMB, each state’s handling of the Covid-19 pandemic has emerged as an important indicator of a market’s ability to absorb external and internal shocks.
“A government’s ability to aid its economy in a period of deep crisis, either through direct fiscal stimulus or an ability to capitalise on its large distribution networks, has become crucial,” its report notes.
“We have therefore included a fiscal score as an additional pillar in our rankings based on available data. This indicator aims to score governments’ fiscal positions and provide a basis from which an investor can understand a specific jurisdiction.”