10 Best countries for investment in Africa
10 Best countries for investment in Africa - Fueled by a young rapidly urbanizing population, Africa is not only the fastest growing continent on the planet, it’s the only region on the globe where more women than men choose to become entrepreneurs. In 2019, the 5 fastest-growing economies in the world were in Africa, expanding at more than 2X the rate of the worldwide average. The best time to invest in Africa is now. However, foreign investors have not moved into the continent as quickly as expected because foreign investment decisions are often methodically over structured. One of the major factors cited is too much risk. But risks and profits are inseparable twins: high-risk ventures are frequently associated with higher profits.
Painting Africa with the same economic brush is always a mistake; the Africa Rising narrative has changed, since many countries on the continent are experiencing rapid growth and development. According to a report by the UN Conference on Trade and Development, Africa is the most profitable region in the world. The report further stated that, between 2006 and 2011, Africa had the highest rate of return on inflows of Foreign Direct Investment at 11.4%. This is compared to 9.1% in Asia, 8.9% in Latin America and the Caribbean. The global figure during this period was 7.1%.
Examples of companies benefiting from bountiful profits in Africa abound. Sonatrach’s turnover from oil and gas alone was $31.9 billion; MTN Group’s turnover was about $10.4 billion; and Dangote Group’s turnover was $4.1 billion—all in 2019. A variety of factors drive up Africa’s profit prospects, making it imperative for European, North American, Asian, and Latin American businesses to invest, helping to foster the continent’s economic progress.
So which countries present the most favorable conditions for investment in Africa. Our video today will present the 10 best countries for investment in Africa based on Rand Merchant Bank 2021 report, which assesses each African economy’s investment potential.
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