According to the Africa CEOs Survey 2020 edition, Côte d'Ivoire remains the most attractive African country for investments according to the private sector. The country is ahead of Kenya, Ghana, Senegal and Rwanda. 4 West African countries are in the Top 10, including 2 from UEMOA.
Deloitte and the Africa CEO Forum have just published the second edition of the Africa CEOs Survey. As part of the new report, a new African Investment Attractiveness Index ranking the most attractive African countries for investment according to the private sector has been produced.
At the end of the study, it emerges that the Ivory Coast is according to the majority of the actors of the private sector questioned, the African country most attractive for investments. As in 2019, the country occupies the top of the podium and is ahead of Kenya (2nd), Ghana (3rd), Senegal (4th) and Rwanda (5th). The other half of the Top 10 is occupied by Ethiopia (6th), Nigeria (7th), Morocco (8th), DRC (9th) and South Africa (10th).
Despite covid-19, the Ivory Coast, Nigeria and Morocco have maintained their position compared to last year. Countries like Rwanda and Ethiopia have dropped in the new rankings. As for South Africa, its regression may be associated with the increasingly catastrophic situation of its economy exacerbated by corruption and the new health crisis, the country being the most affected by the coronavirus in Africa.
This year, the bottom of the class when it comes to attracting investments in Africa, according to the report, are Comoros, Lesotho, Eritrea and Burundi. Despite recent elections which brought General Evariste Ndayishimiye to power, Burundi still seems to have difficulty convincing investors of its ability to create an environment conducive to private investment.
As a reminder, the Africa Investment Attractiveness Index is based on the responses provided by African business leaders to the question: “Which African countries do you find most attractive to invest in at the moment?” It aims to provide insight into the investment willingness of private sector leaders.
According to Deloitte, “it is not intended to analyze the investment conditions or the ease of doing business in the countries in question.”
Note that only Sao Tome and Principe was not taken into account in the ranking.
Source Ecofin Agency