Ghana is ranked 6th in Africa as the most attractive investment country in Africa in 2024, and Rand Merchant Bank (RMB) ‘Where to Invest in Africa 2024’ report has revealed.
The nation had an overall score of 0.24.
For Innovation, it scored 0.549, placing 9th whilst it had 0.935, placing 5th in the Growth Structure.
It also placed 6th in Economic Stability and Investment Climate (0.27)
The country, however, placed 10th in Urbanisation (0.553) and 6th in Connectedness (0.850), whereas it placed 26th in Complexity.
The report stated that “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 noted 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 stressed.
By 2027, growth is forecast to benefit from increased gold and oil exports as new projects come online.
Seychelles came first with a score of 0.72%. It was followed by Mauritius (0.69) in 2nd position and Egypt (0.49) in 3rd.
In the 4th and 5th positions were South Africa (0.33) and Morocco (0.30).
