Tunisia was ranked 9th in Rand Merchant Bank’s Where to Invest in Africa report.
The country has made great strides in advancing political transition while an improved business climate has been achieved by structural reforms, greater security and social stability.
Thanks to an environment that has improved considerably since 2010, Morocco remains number three for the third consecutive year, while Egypt displaces South Africa and goes top of the ranking the bank has drawn up every year for seven years now, based on real GDP at purchasing power parity, growth forecasts and the business environment.
Egypt displaced South Africa largely because of its superior economic activity score and sluggish growth rates in South Africa, which have deteriorated markedly over the past seven years.
South Africa also faces mounting concerns over issues of institutional strength and governance though in South Africa’s favor are its currency, equity and capital markets which are still a cut above the rest, with many other African nations facing liquidity constraints.
Morocco retained its third position for a third consecutive year having benefitted from a greatly enhanced operating environment since the “Arab Spring” which began in 2010.