Morocco took the lead in North Africa thanks to multiple factors including economic growth, strategic geographic positioning, increased foreign direct investment, import cover ratio, and an overall favorable business environment, Quantom Global said.
At the North African level, Egypt came second followed by Algeria, Tunisia, Libya and Mauritania.
At the continental level, Morocco came second preceded by Botswana, which scored higher based on a range of factors that include improved credit rating, current account ratio, import cover and ease of doing business.
Morocco was followed by Egypt in the third position and South Africa which came in fourth. Together the top 5 African countries in the index attracted FDIs worth $13.6bn.
The Index is a multidimensional barometer based on six clusters of factors namely growth factors, liquidity factors, risk factors, business environment factors, demographics and social capital factors.
The index is aimed at providing investors with a guide to the risks and opportunities offered in every African country as far as doing business is concerned.