Tanzania has ranked 7th most attractive investment destination in Africa climbing two positions from 9th it ranked in 2016/2017.
A latest Rand Merchant Bank (RMB) report reveals that Tanzania is now one of Africa’s most exciting investment destinations.
“Tanzania is hot on Kenya’s tail and it won’t surprise many to see it also overtake the region’s former leader,” says the report.
On contrary Kenya slipped one position from 5th it ranked in 2016/2017 to 6th position this year.
As a result Ethiopia now outshines Kenya as the number one attractive investment destination in East Africa.
“However, Kenya is still one of the continent’s strongest economies but it comes with frailties that highlight many of the key issues facing African nations: corruption, ethnic divides, political instability and rising debts.,” says the report.
According to Nema Ramkhelawan-Bhana – African analyst of RMB – Governments are gradually coming to the realization that diversification is necessary to foster meaningful growth. But transformation cannot be achieved in isolation. Structural reforms and greater private sector participation are crucial to unlocking Africa’s potential. RMBs analysis of sectoral developments — specifically in the spheres of finance, infrastructure, resources and retail — strongly support this point of view.
Below are the top 10 African countries to invest in 2018: