Egypt has been ranked as the most attractive country in Africa for investment by the eighth edition of “Where to invest in Africa’’ of Rand Merchant Bank.
Efficient infrastructure was identified by the rating as essential to uncovering opportunities and unlocking Africa’s growth potential.
Celeste Fauconnier and Neville Mandimika, the co-authors of the publication and RMB Africa Analysts, limelighted the importance of efficient infrastructure.
According to the World Bank, the lack of efficient infrastructure trims up to 2.6 per cent off the African average per capita growth rate and places serious strain on human development.
Fauconnier said: “The African Development Bank’s (AfDB) most recent estimation of infrastructure needs is between US$130bn and US$170bn annually, but the continent’s available capital is insufficient to achieve this”.
According to NAN top three on the list Egypt, South Africa and Morocco. Egypt kept their top spot ranking and the country is Africa’s market in GDP terms. It also boasts of the largest consumer market in the Middle East and North Africa.
She added that that the good news is that this shortfall represents an opportunity to businesses involved in the development or financing projects of infrastructure projects.
According to Fauconnier, South Africa is currently a hot spot for FDI with the President Cyril Ramaphosa efforts to build a $100 billion book of foreign and domestic investments project on track, and thus keeps the second position.
Ranked in third place is Morocco which is Africa’s fifth largest market. The country has a growth rate expectation of 4 per cent over the medium term.
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