Morocco is the second most attractive economy for investments destined for the African continent, according to the latest Africa Attractiveness Index released by global advisory firm EY.
EY ranks South Africa as the most attractive investment destination in Africa in its Africa Attractiveness Index. Morocco, Egypt, Kenya and Mauritius are ranked second, third, fourth and fifth respectively.
The auditing and advisory company has also predicted a tough few years ahead for the continent. The global economy is struggling for growth amid slowing down commodity prices and a less rosy outlook for China’s economic transformation and growth outlook.
“Despite macroeconomic challenges (and a low-growth environment), South Africa still outperforms most other African economies due to relatively high scores across every other dimension (partly a reflection of the fact that the South African economy is more developed than any other African economy),” EY said.
Experts say economic growth across Africa will likely remain slower in the next few years than it has been over the past 10 to 15 years.
“From an investment perspective, the next few years may be challenging – this is not because the opportunities are no longer there, but rather because these opportunities are likely to be more uneven than they have been,” Sugan Palanee, Africa markets leader at EY, said.
