The Paris-based consulting firm Havas Horizon has ranked, in its latest report, the North African country the third most attractive investment destination for the coming years.
The report titled “Financing the African growth by 2020: Perception of international investors’’ surveyed 55 global financial and banking institutions such Adenia Partners, Afrasia Bank, Africa Export Import Bank, Ardian, Attijariwafa Bank, Bank Of America, Ecobank, BGFIbank, BICICI (Banque Internationale Pour Le Commerce Et L’industrie De La Côte D’ivoire), BNP Paribas, Business Partners International, Capmezzanine (CDG Capital). The report puts Morocco at the third place right behind Ethiopia (1st) and Nigeria (2nd).
About 23% of surveyed institutions voted for Morocco for various reasons namely its glamorous tourism assets, its closeness to Europe, its quality infrastructure, export-oriented manufacturing industry, its numerous free-trade agreements as well as its investments in solar and wind energy.
Morocco moved two spots up compared to 2015 ranking dominated by Nigeria.
Ethiopia cruised to the top scoring 52 per cent of the vote. It finished third on last year’s ranking.
Nigeria lost its top position to rank second. The western African country, which also lost its rank of first African economy, still attracts investors as 44% of surveyed institutions voted for the continental giant.
Ghana and Senegal ranking respectively 4th and 5th complete the top five rankings.