Saturday, 31 July 2021 11:40 GMT

Morocco Ranks 1st for Economic Investment in Africa: Report


(MENAFN - Morocco World News) Morocco Ranks 1st for Economic Investment in Africa: Report By Ahlam Ben Saga

Rabat- Morocco has been recognized as a top-tier destination for economic investments on the African continent in 2017, in sectors such as information and communication technology (ICT), energy, infrastructure, and tourism.

Quantum Global Research Lab released a report on Monday, March 26, showing Morocco's highest investment in 2017: 2.57 billion dollars of foreign direct investment which marked an increase by twelve percent in comparison with 2016, making Morocco the first in Africa's 2017 Investment Index.

The 2017 investment index features 'Top 10' and 'Bottom 10' African countries.

After Morocco, Egypt ranks second, Algeria third, then Botswana, the Ivory Coast, South Africa, Ethiopia, Zambia, Kenya, and Senegal.

The 'Bottom 10' includes Central Africa, Liberia, Somalia, Eritrea, Equatorial Guinea, Gambia, Sierra Leone, Sao Tome-Principe, and Zimbabwe.

The report shows that Morocco's investment advancement goes back to the country's strong social capital factors, strategic geographic positioning, increased economic growth, direct foreign investment, and external debt levels.

Morocco has been successful in attracting international investors to its borders especially in areas of tourism, energy and industry, as Managing Director of Quantum Global Research Lab Mthuli Ncube said:

'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.'

Based in Zug-Switzerland, Quantum Global Group is a private entity concerned with investment Management, macroeconomic research, and econometric modelling, providing services to institutional clients in the African continent.

Quantum Global mainly targets Africa's agriculture, healthcare, hotels, Infrastructure, mining, and timber sectors.

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