Africa's most attractive investment destinations named

South Africa, Nigeria and Ghana remain the top three most attractive investment destinations in Africa. According to Celeste Fauconnier, African analyst for Rand Merchant Bank (RMB), there have been some changes to global rankings in the past year as the continent has fallen in the global investment attractiveness rating. This is only the second time in a decade that a total of 22 countries have tumbled down the African rankings. Fauconnier said the ranking was based on growth forecast, actual market size and the operational environment. “Interestingly enough Egypt, which used to be the third most attractive investment destination, has moved three places, while Libya has dropped out of the top 10 completely. Algeria re-entered the top 10 after not making the list for three years and Rwanda has made it for the first time.” Other countries in the top 10 are Morocco, Tunisia, Ethiopia and Tanzania. “Regardless of xenophobia and Eskom, South Africa is still the highest ranking country in Africa for investment despite being overtaken in market size last year by Nigeria,” she said.