Quantum Global Research names Morocco top investment destination in Africa

Morocco SquareMorocco saw a 12 per cent rise in FDI in 2017. (Image source: Geraint Rowland/Flickr)Quantum Global Research named Morocco the most attractive economy for investment in Africa citing an improving economy, increased foreign direct investment and external debt levels among others

“Morocco has been consistent in attracting an inward flow of foreign capital, specifically in banking, tourism and energy sectors and through the development of industry,” Mthuli Ncube, managing director, Quantum Global Research Lab said.

The country saw a 12 per cent rise in FDI to US$2.57bn in 2017 from last year, according to the Moroccan Exchange Control.

According to the report, international investors are looking at investing in sectors including energy, infrastructure, tourism, and ICT among others.

Quantum Global Research also said Swaziland, Angola, Rwanda, Chad, Comoros, Seychelles, South Sudan and Sierra Leone had shown "strong upward movements" according to a ranking of countries in its Africa Investment Index three-year rolling rankings.

“Continued FDI inflows will continue to drive the much-needed capital to develop Africa’s primary sectors to meet the demands of the continent’s rapidly growing middle-class, and into manufacturing sectors to create more jobs, enhance economic growth and support structural transformation,” Ncube said.

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