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Here are the top 10 African countries to invest in for 2020

September 24, 2019 at 05:00 pm | Money Moves

Michael Eli Dokosi

Michael Eli Dokosi | Staff Writer

September 24, 2019 at 05:00 pm | Money Moves

There is a blend of West, East and Northern African states on the log with South Africa being the only southern state. Pic credit: Encyclopedia Britannica

Johannesburg-based Rand Merchant Bank Ltd, RMB, has released its latest annual study known as Where to Invest in Africa 2020, highlighting the top 10 attractive investment destinations in Africa.

RMB Global Markets Research’s ninth edition of the report analyses 54 African economies according to their investment attractiveness.

The latest publication returns to where it all began — focusing on the traditional and alternative sectors driving African countries to reach ever-higher levels of economic growth.

Kenya emerges 4th on the top 10 states ladder, thanks to its positive growth prospects to a diversified economy, expanding consumer market, urbanisation, the East African Community (EAC) integration, structural reforms and investment in infrastructure.

Key drivers for the ten economies are resources, manufacturing, real estate and construction, ICT, retail, banking and finance.

Macro-economic fundamentals and the attractiveness of doing business enabled states in the top 10 league to score better than other states. There is a blend of West, East and Northern African states on the log with South Africa being the only southern state.

Below are the top 10 countries in Africa to invest in for 2020:

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