21 April 2017

Africa: Tanzania Among Top Best Countries for Investment in Africa

Photo: Alidamji/Wikipedia
Dar es Salaam city.

Tanzania has featured in a list of top ten most attractive for investment flowing destination into African continent, emerging the only state from East Africa bloc.

According to Africa Investment Index 2016, Tanzania was slotted on position eight ahead of Namibia and Burkina Faso, but below Algeria (on position 7), Cote d'Ivoire (6) and Zambia (5).

The Index was produced by Quantum Global's independent research arm, Quantum Global Research Lab indicating Botswana as the most attractive destination, Morocco second, Egypt third, and South Africa on fourth position. Botswana scores highly based on a range of factors that include improved credit rating, current account ratio, import covers and ease of doing business.

Quantum Global Research Lab Head, Prof Mthuli Ncube, said Botswana strategic location, skilled workforce and a politically stable environment attract the attention of international investors leading to a significant influx of FDI.

"Despite external challenges and the fall in oil prices, many of the African nations demonstrate an increased willingness to achieve sustainable growth," Prof Ncube said in release issued yesterday. The head said the states willingness to grow based on diversifying their economies and introducing favourable policies to attract inward investments.

According to the report, the top five African investment destinations attracted an overall FDI of 13.6 billion US dollars. Prof Ncube said "with a population of over one billion people and rapidly growing middle class, Africa clearly offers significant opportunities."

He said most FDIs went to invest in the continent's non-commodities sectors such as financial services, construction and manufacturing amongst others. Other East African economies, Kenya, Uganda, Rwanda, Burundi and Sudan featured neither on top nor bottom tens.

The worst country that attracted less FDI in 2016 was Somalia followed by Eritrea and Central African Republic and South Sudan. Others from worst to best are Sierra Leone, Liberia, Malawi, Equatorial Guinea, Gambia and Madagascar.

The Index looks on increasing solid economic growth, strategic geographic positioning, increased FDI, import cover ratio, significant domestic investment, access money supply and an overall favourable business environment.


Self-Financing to Take Centre Stage At African Union Summit

When African leaders convene in Addis Ababa, Ethiopia, next weekend for the 30th Ordinary Session of the Assembly of the… Read more »

Copyright © 2017 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.