A report by Rand Merchant Bank (RMB) once again ranked South Africa as the most attractive African investment destination, but the gap was closing rapidly.

In its second edition of ‘Where to Invest in Africa’, RMB noted that South Africa scored 5.84, followed closely by Egypt and Nigeria, with scores of 5.52 and 5.50 respectively.

The report, which, for the first time, included North African countries, measured an African country’s market size, as measured by gross domestic product (GDP) at purchasing power parity; the market growth rate, as reflected in the International Monetary Fund’s forecasts of real GDP growth; and an operating environment index, which looks at economic freedom, corruption, efficiency and business friendliness.

Source: Engineeringnews