Mounting business and consumer confidence along with the easing of political tension will see South Africa reclaiming its status as the most attractive investment destination on the continent.
According to Celeste Fauconnier, RMB Africa analyst and co-author of Where to Invest in Africa, Egypt currently holds the number one spot largely due to its superior economic activity score and the sluggish growth rates in South Africa.
Speaking at an Exporters’ Club Western Cape function last week, Fauconnier said South Africa had deteriorated markedly over the past seven years facing mounting concerns over issues of institutional strength and governance.
But, more recently things have been improving and the growth momentum was likely to extend to the next two years. Fauconnier said as the political dust continued to settle – along with ratings agencies’ changes in outlook to stable – South Africa would again be the lead economy on the continent sooner rather than later.
CAPTION
Terry Gale, chairman of the Exporters’ Club Western Cape, Celeste Fauconnier, RMB Africa analyst, Nigel Gwynne Evans, dti chief director for Africa Trade & Development, and Sylvester Selepe, director RMB Capital.
