Ghana is 6th most attractive investment destination in Africa in 2024 – Report

A 2024 Rand Merchant Bank (RMB) “Where to Invest in Africa” report has revealed that Ghana is ranked 6th in Africa as the most attractive investment country.

The report said that Ghana represents a substantial market and ranks favourably on corruption while topping the list on import concentration.

It added “Further, it is among the top ten for urbanisation, connectedness, innovation, political stability, personal freedom and employment.”

According to the report, Ghana’s fiscal consolidation measures are showing positive signs of improvement.

“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.

The nation had an overall score of 0.24, it scored 0.549 for Innovation, 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), placed 10th in Urbanisation (0.553) and 6th in Connectedness (0.850), and placed 26th in Complexity.

Seychelles came first with a score of 0.72%, followed by Mauritius (0.69) in 2nd position and Egypt (0.49) in 3rd.

South Africa (0.33) and Morocco (0.30) placed 4th and 5th.

SSD/OGB

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