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South Africa, Nigeria and Kenya are top investment countries
International investors have chosen South Africa, Nigeria and Kenya as the best African countries for potential investment on the continent.
A survey conducted by Africa Business Panel among 800 business professionals involved with Africa shows that these three countries were earmarked as the continent’s favourites when it comes to international investment.
Ghana, Angola, Tanzania, Rwanda, Botswana, Uganda and Mozambique were the runners up and complete the top ten countries for investment out of 53 economies on the African continent.
“The Kenyan economy is growing at a blazing rate and has done so for the last 3 years. We expect this to continue into next year. Nairobi’s as the regional hub for East Africa is becoming more important with the integration of the East Africa Community.
“Anyone interested in mobile and ICT technology will be drawn to Kenya. Its leading when comes to software developers, computer science colleges, incubators like i-Hub and others. Finally, the phenomenal success of the mobile payment system Mpesa will attract others who are interested in the mobile opportunities,” says Nicholas Sowden, Business Development Manager at ToughStuff, Kenya.
In terms of entrepreneurship, Nairobi is, and will continue, to be one of the best environments for innovation in Africa, says Sowden.
Research and numerous survey results among the international investor community consistently indicate that investors expect over half of the 10 fastest growing economies in the world in 2011 to be African.
Top 10 African investment countries
The top 10 African countries selected by the international investor community in 2011 in order of preference:
1. South Africa
2. Nigeria
3. Kenya
4. Ghana
5. Angola
6. Tanzania
7. Rwanda
8. Botswana
9. Uganda
10. Mozambique
Lourens van Niekerk, Senior Manager at Standard Bank, South Africa says “Angola is still growing its economy at a massive speed and with the oil price appreciation it is bound to continue. A distinct lack of certain products and services is growing instead of declining and makes Angola a frontier market of the first order.”
Ogo Ibok, CEO at Skill Enhancement Centre (SENCE) Nigeria says Nigeria has a huge population with a huge potential for growth, despite the infrastructural challenges, the opportunities for investors cannot be over estimated. Ghana is an emerging market with a stable government.
Rwanda is now one of Africa’s major success stories and is growing in leaps and bounds. The government has shown it is serious and determined about rebuilding its economy after the tragic events that took place in the past,” says Ibok.
African Business Confidence Index
The Africa Business Confidence Index has published a monthly business confidence index since January 2011, and the top 10 countries selected by the international investor community in 2011 are all sub-Saharan. Northern Africa has suffered a set back in investor confidence due to the political turmoil, which started at the beginning of 2011.
“Most African economies show promising annual growth. This is attracting the attention of the international investor community who increasingly see Africa as the last frontier for attractive growth opportunities,” says Ibok
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