This is according to the ‘Where to Invest in Africa 2024 Report’ compiled by Rand Merchant Bank.

The report looks at the economies of 31 African countries. The rankings take into consideration key factors that affect performance and investment appeal.

Egypt ranked first retaining its position from previous years followed by Nigeria and Ethiopia who moved up in the rankings.

While South Africa’s ranking dropped in the past six years, it is described as one of the most stable economies since the report’s inception in 2011.

This is due to the size of the economy, diversification and connectivity.

Speaking at the launch of the report, Chief Economist at RMB Isaah Mhlanga noted the broad range of trading partners who contributed to the strong performance.

“The one where it underperforms is on the human and social development. High unemployment rate, the most unequal country. But it also offers an opportunity for policymakers to change the future because these models are not cast in stone. They don’t predict where you end up, they give you the tools of analysis.”

--SABC--