Egypt replaces South Africa as top spot in “where to invest in Africa” report

Mohamed Samir
1 Min Read
The view from the Galaa Bridge shows the Nile and the high-rises on the Corniche in the background (Photo By: Thoraia Abou Bakr)

Egypt has secured the first spot as Africa’s most attractive investment destination in the “where to invest in Africa 2018” report published by Rand Merchant Bank (RMB). Egypt replaced South Africa, which came in the second place.

According to the report, Egypt’s rank came as a result of an outstanding economic activity score, while South Africa’s sluggish growth rates have moved it to second place, while Morocco came in third place, followed by Ethiopia and Ghana, while Nigeria,for the first time, didn’t secure a place in the top 10 list.

“Over the past three years, some African governments have had to implement deep and painful budget cuts, announce multiple currency devaluations, and adopt hawkish monetary policy stances—all as a result of a significant drop in traditional revenues,” said Celeste Fauconnier, an analyst at RMB Africa.

The RMB  invest in Africa report measures each country’s score based on the ease of doing business in it, and in the previous six published reports, South Africa came in the first place. RMB is a leading African corporate and investment bank.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: LinkedIn:
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