Morocco took second position in the new ranking of the most attractive countries for investment in Africa, according to the Rand Merchant Bank (RMB) ranking report, reported Africa Business Insider on Monday.
The Kingdom is right on the heels of Egypt, thanks to its political stability, economic strategy and its recent cascade of private investments.
Morocco has made up significant ground since it created a special fund to combat COVID-19 in 2020, representing an eye-opening 2.7% of its GDP.
Two-thirds of the funds were to come from private sources and one-third from the government, the report pointed out.
In this ranking, the Kingdom is ahead of South Africa, Rwanda and Botswana. Ghana, Mauritius, Côte d’Ivoire, Kenya, and Tanzania round out the top ten.
South African Rand Merchant Bank (RMB) published its list of the top ten investment-worthy African nations, targeting investors who wish to invest in real assets or build enterprises which rely on physical infrastructure.