Ghana has been ranked 6th in Africa as the most attractive investment country in Africa in 2024, Rand Merchant Bank (RMB) ‘Where to Invest in Africa 2024.11.11
The revealed that Ghana recorded an overall score of 0.24.
It placed ninth for Innovation with a score of 0.549 and fifth for Growth Structure with a score of 0.935.
Additionally, it ranked sixth in terms of investment climate and economic stability (0.27).
However, the nation ranked 26th in Complexity, 10th in Urbanisation (0.553), and 6th in Connectedness (0.850).
“Ghana represents a substantial market. Further, it is among the top ten for urbanisation, connectedness, innovation, political stability, personal freedom and employment. It also ranks favourably on corruption and tops the list on import concentration”.
The report explained that there are positive signs on the fiscal front.
“Fiscal consolidation is broadly on track, with an estimated deficit of 4.6% of GDP [Gross Domestic Product] at the end of 2023, significantly lower than the 10.7% deficit in 2022. At 15.7% of GDP in 2023, revenues and grants reached the same level as 2022 despite lower oil revenues”, it the report added.
By 2027, growth is forecast to benefit from increased gold and oil exports as new projects come online.
Seychelles ranked first with a score of 0.72%. It was followed by Mauritius (0.69) in second and Egypt (0.49) in third.
South Africa (0.33) and Morocco (0.30) ranked fourth and fifth, respectively.
The current edition of the RMB Where to Invest in Africa report maintains that investment decisions must be viewed through both an economic performance and an operating environment lens.
Thus, building on the previous work, it packaged this data as:
1. Economic performance and potential
2. Market accessibility and innovation
3. Economic stability and investment climate
4. Social and human development
The report indicated that four pillars are constructed from a total of 20 metrics, each comprising a multi-year database of robust figures drawn from preeminent institutions.
The 2024 RMB Where to Invest in Africa report is based on the input of experienced professionals and, in part, on work published in peer-reviewed journals to expand on our earlier model.
The quantitative model underlying this report stands on the shoulders of the work done on prior editions.
By: Rainbowradioonline.com/Ghana