Despite all the campaigns by the President Muhammadu Buhari administration to convince foreign investors, Nigeria’s economy has failed to make the top ten investment destinations in Africa.
According to the new 2018 Africa Investment Index report released by Quantum Global Research Lab, while Morocco, Egypt, Algeria, Botswana and Cote d’Ivoire all made the list in the top ten, Nigeria failed to occupy any position in the first 10.
In the list, Morocco is the most attractive economy for investments flowing into the African continent.
Quantum Global (www.QuantumGlobalGroup.com) is an international group of companies active in the areas of private equity investments, investment management as well as macroeconomic research and econometric modelling.
Quantum Global’s private equity arm manages a family of funds targeting direct investments in Africa in the sectors of Agriculture, Healthcare, Hotels, Infrastructure, Mining and Timber – as well as a sector agnostic Structured Equity fund.
The firm combines a solid track record and proven expertise to identify and execute unique investment opportunities with focus on Africa. Quantum Global works in close partnership with key stakeholders to maximise investment value and returns through active management and value creation.
AII revealed further that Morocco ranks first on the Index based on its increasing solid economic growth, strategic geographic positioning, increased foreign direct investment, external debt levels, social capital factors and overall favourable business environment.
In his remarks at the official presentation of the report on Monday, March 26, 2018, Prof. Mthuli Ncube, Managing Director, Quantum Global Research Lab averred that “In spite of the improvements to oil production and prices, African economies are turning their attention towards diversification to stimulate industrial development, and to attract investments in non-oil strategic sectors. Morocco has been consistent in attracting an inward flow of foreign capital, specifically in banking, tourism and energy sectors and through the development of industry.”
According to the report, the top five investment destinations attracted a combined net FDI of $12.8 bn in 2016