Ghana Retains 6th Spot Among Africa’s Top Investment Destinations — RMB Report
Ghana has maintained its position as the 6th most attractive investment destination in Africa, according to the latest “Where to Invest in Africa” report by Rand Merchant Bank (RMB).
The ranking, which assessed 31 African economies across 20 indicators under four main pillars — macroeconomic performance, market accessibility, innovation and stability, and human development — highlights Ghana’s continued economic recovery and improving investor confidence.
Ghana held the same 6th position in last year’s edition, trailing Seychelles, Mauritius, Egypt, South Africa, and Morocco, which ranked first to fifth respectively. Algeria, Côte d’Ivoire, Tanzania, and Kenya followed Ghana in the top ten.
According to RMB, Ghana’s economy is showing signs of stabilisation under the International Monetary Fund (IMF) and World Bank-supported programmes, with growth projected at 4.3% in 2026. The report cites gradual disinflation, fiscal reforms, and improved currency performance as key factors enhancing market perceptions.
At the top of the list, Seychelles and Mauritius retained their lead, reflecting a combination of sound fiscal management, low corruption levels, and resilient post-pandemic recoveries.
Both island nations have also positioned themselves as gateways for sustainable finance and blue-economy innovation, with Mauritius expanding its financial-services reach across East and Southern Africa.
Further north, Morocco continues to chart a steady course, buoyed by preparations to co-host the 2030 FIFA World Cup and ambitious infrastructure expansion. The IMF projects growth of 3.5% in 2026, supported by major investments in transport networks, desalination plants, and renewable energy capacity.
Meanwhile, Egypt, holding third place, has benefited from reforms and renewed Gulf investment. The IMF forecasts 4.5% growth in fiscal 2025/26 as privatisation and exchange-rate flexibility enhance competitiveness and investor confidence.
In contrast, South Africa, ranked fourth, faces persistent structural bottlenecks that continue to weigh on growth.
The IMF expects output to rise only 1.8% in 2026, the slowest among Africa’s major economies. However, improved investor sentiment has lifted equity markets, with the JSE All Share Index gaining 14.7% in the first half of 2025, its strongest start since 2006.
Côte d’Ivoire climbed eight places, underpinned by efforts to diversify exports and increase domestic processing of cocoa and cashews. Its pioneering CFA franc-denominated bond issuance also signals deepening capital-market maturity.
By contrast, Nigeria experienced the sharpest fall in this year’s ranking, dropping from 9th to 18th place, as reforms to remove fuel subsidies and unify exchange rates triggered inflation and currency volatility. Even so, the IMF projects growth of 4.2% in 2026, reflecting gradual stabilisation following the country’s exit from the FATF grey list and renewed investor engagement.
Rounding out the top ten, Kenya remains East Africa’s economic anchor, with 5.1% growth projected in 2026. Fiscal tightening and new investment in green infrastructure are expected to support medium-term resilience and investor confidence.
