According to a report released by Ernst & Young, Africa’s economy evolution was determined by the change in political landscape, diversification in revenue generation, investment in infrastructure, African countries significant improvement in creating environments that are ‘business friendly’ and investing in human development that has seen a rise in a population that is healthier and far better educated and skilled.
The Africa Attractiveness Index report has given the list of most preferred investment destinations in Africa for investors. Starting with the most attractive country to the least attractive pinned on the evaluation of progress made on the resilience on the current macro-economic challenges and the economy evolution determinants mentioned.
This is the rank of the African countries lead by South Africa
1.South Africa 2. Morocco 3. Egypt 4. Kenya 5. Mauritius 6. Ghana 7. Botswana 8. Tunisia 9. Rwanda 10. Cote d’Ivoire 11. Senegal 12. Tanzania 13. Uganda 14. Ethiopia 15. Nigeria 16. Algeria 17. Zambia 18. Namibia 19. Benin 20. Mozambique
South Africa outperforms most other African economies due to relatively high scores across every other dimension partly due to the fact that its economy is more developed than any other African economy.
Kenya and Cote d’Ivoire strong economic performance and prospects coupled by growth in infrastructure and an enabling business environment. Botswana, Mauritius and Rwanda have strong track records in enabling business environment, social development and economic management for small markets according to the report.
“The North African countries of Egypt, Morocco, Tunisia, as well as Ghana, in West Africa, remain under some pressure economically, but have the advantage of a relatively business-friendly environment, good infrastructure and, in the case of Ghana, a strong governance track record.” Says the report
Although Nigeria’s economy is one of the most resilient economy in the continent, it has very low scores on enabling a business environment, governance and human development. Tanzania, Uganda and Ethiopia lead in macroeconomic resilience but are not doing well in long term focus.