Cameroon listed among most attractive investment destinations in Africa

By Innocent Kum in Yaounde

President Biya has succeeded to put Cameroon on the list of investment destination countries

Cameroon has been ranked amongst most attractive investment destinations in Africa.

            According to the latest Africa Investment Index 2018 by Quantum Global Research Lab, an independent research arm of Quantum Global, Cameroon was ranked 12 out of some 54 countries survey across Africa.

            Though the Central African giant nation was classified amongst the first ten most attractive destinations, experts say the country remains fertile ground for foreign investment in the continent.

            Meanwhile going by the same index, Morocco was named first most attractive investment destination in Africa, followed closely by Egypt and Algeria.

            The index which was released on the sidelines of the Africa CEO Forum in Abidjan, it should be said measures six major factors including growth, liquidity, risk, business environment, demography and social capital, to determine the investment attractiveness of countries in the medium term.

            Ivory Coast which is the fastest growing economy in Africa was ranks 5th on the investment index while Botswana, previously ranked as Africa’s top investment destination in the first edition, ranks 4th scoring well in risk factors as well as the business environment.

            The other countries among the top 10 most attractive investment destination in Africa are Ethiopia, South Africa, Zambia, Kenya and Senegal.

            The bottom 10 African countries in attracting investment are Central African Republic, Liberia, Somalia, Eritrea, Equatorial Guinea, Gambia, Sierra Leone, Guinea, Sao Tome and Principe as well as Zimbabwe.

             “Morocco has attracted regular inflows of foreign capital, particularly in the banking, tourism and energy sectors and through the development of its industry,” said Professor Mthuli Ncube, General Manager of Quantum Global Research. Lab.

            Africa’s top five investment destinations attracted an overall foreign investment of $ 12.8 billion in 2016, according to the report.

            “Despite improvements in oil production and prices, African economies are turning to diversification to boost industrial development and attract investment in strategic sectors other than oil,” Ncube added.

            Quantum Global is an international group of companies active in the fields of private equity, investment management, macroeconomic research and econometric modelling.