This archive report was first published on 23 September 2019.
Published on September 23, 2019, the Where to Invest in Africa 2020 report ranks Kenya as one of the top countries to invest in Africa.
Kenya's improved ranking is attributed to its expected growth rate of over 5%, driven by favorable weather and political reconciliation after the 2017 disputed elections.
According to the report, Kenya's economy benefits from diversity, sustained expansion in consumer demand, urbanization, East African Community integration, structural reforms, and investment in infrastructure.
Kenya's movement up the ranking saw it surpass Ethiopia, which fell to ninth place. Ethiopia had previously been reported to have pipped Kenya as the top destination for foreign direct investment in East Africa, attracting Ksh700 billion last year.
Egypt retained its position as the top destination for investment in Africa for the fourth consecutive year, driven by enhanced government programs and improved private sector investment.
Morocco came in second, overtaking South Africa, which slid to third place. The report attributed Morocco's improved ranking to its reintegration into the African Union and accession to the Economic Community of West African States.
South Africa's decline was attributed to depressed growth levels and a lack of structural reform, despite remaining a hotspot for portfolio investment.
The top 10 countries to invest in Africa, according to the report, are Egypt, Morocco, South Africa, Rwanda, Kenya, Ghana, Cote d'Ivoire, Nigeria, Ethiopia, and Tunisia.
