Morocco earned the title of Africa’s top investment destination thanks notably to an improving economy, increased foreign direct investment flow and low external debt levels in addition to propitious business climate among others.
“Morocco has been consistent in attracting an inward flow of foreign capital, specifically in banking, tourism and energy sectors and through the development of industry,” Mthuli Ncube, managing director, Quantum Global Research Lab, said in a statement.
The North African country registered a 12% increase in FDIs to $2.57 billion in 2017 compared to 2016.
The report cites energy, infrastructure, tourism, and ICT as key sectors attracting investors in Morocco.
Morocco was followed in the ranking by Egypt, Algeria, Botswana, South Africa and Côte d’Ivoire.
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.