The Control Risks Group, in partnership with Oxford Economics Africa, has published the update of the Africa Risk-Reward Index for 2025.
This index analyzes the risks and investment opportunities in 24 African countries, taking into account political, economic, and security factors.
The index presents two separate scores, each out of 10, allowing for an assessment of the prudence and potential return on investment in each country.
On the one hand, the Risk Score measures the uncertainties and vulnerabilities that an investor may face, considering political, economic, security, and social factors.
The higher the score, the greater the risks that could affect investment.
In parallel, the Reward Score evaluates a country’s growth potential and ability to offer attractive opportunities.
This score is tied to economic growth, structural reforms, access to markets, and export diversification. The higher the score, the more favorable the environment is for investment.
Tunisia: Still limited potential
Tunisia recorded a reward score of 3.14, an increase of 0.26 points compared to the previous edition.
This reflects a modest improvement in the country’s economic attractiveness, partly due to targeted reforms aimed at stimulating investment and diversifying certain strategic sectors.
On the risk side, few changes were observed. The country scored 5.14, a slight decrease of 0.01 points compared to 2024.
This relatively stable figure indicates that, despite certain economic improvements, Tunisia remains exposed to political and social vulnerabilities that continue to undermine investor confidence.
In North Africa, Morocco stands out, achieving a reward score of 5.31 and a regional risk score of 6.42, reflecting stronger investor protection and a more favorable business environment.
By comparison, Egypt’s reward score is 3.91, while Algeria lags further behind, with a score of 2.15.
Morocco, therefore, maintains its position as the top-ranked country in North Africa and one of the most attractive in Africa overall.
With its reward score of 5.31, Morocco offers investors better prospects than the regional average, while maintaining a risk score below that of many neighboring countries.
This performance reflects ongoing reforms and a favorable investment climate that allow Morocco to consolidate its regional leadership. The country continues to be seen as a stable and attractive destination for investors.
