Morocco was ranked the second best destination for investment in Africa after Egypt, according to the 2020 report of the Rand Merchant Bank (RBM), one of South Africa’s leading investment banks.
The RBM report highlights that the Kingdom, which is among the top five African economies, continues to achieve significant results in terms of economic growth and improvement in the business climate.
Morocco’s Gross Domestic Product (GDP) will have to achieve an average growth of 4% annually over the medium term, as the bank points out in its report: “Where to Invest in Africa 2020”.
The main reason for this performance is, according to the financial institution, the improvement of the business climate since 2011 which benefits from the stability of the Kingdom in the region. Also, notes the South African bank, Morocco’s return to the African Union, agreed at the summit of the pan-African organization held in January 2017 in Addis Ababa, has strengthened Morocco’s attractiveness to international investors.
At the continental level, the RBM notes that South Africa, Ethiopia and Tanzania are the countries that have lost the most in the 2020 ranking.
Be the first to comment