Dar es Salaam — Tanzania has been listed as one of Africa's most exciting investment destinations.
It is No. 7 on the index, according to the Top 10 African Investment Destinations in 2019 report.
The report published by the Rand Merchant Bank indicates that Tanzania jumped two positions from 9th position in the 2018 edition
The report assesses the economic outlook and investment opportunities in each country within the continent, and points out the most exiting investment destinations.
It also analyses spheres of finance, infrastructure, resources and retail.
In East Africa, Tanzania is the third after Kenya and Rwanda.
The report shows Tanzania has remained at the seventh position while Kenya moved one step up to the fifth this edition from the sixth position in Where to Invest in Africa 2018. Rwanda jumped to the sixth position from No.8.
"Kenya remains one of the continent's strongest economies but it comes with frailties that highlight many of the key issues facing African nations: corruption, ethnic divides, political instability and rising debts," the report reads.
Rwanda, which claims the sixth spot in this year's report, has demonstrated growth and diversification.
A notable omission from the Top 10 this year is Tunisia, which has fallen from No. 9 in the previous edition.
Egypt prides itself as the leading investment destination in Africa as it has tried to succeed in consolidating part of the economic gains accumulated in the aftermath of the Arab Spring.
South Africa has fallen to No. 2 on the list, losing its coveted spot as a result of faltering growth outlook and uncertain business environment.
However, despite the streams of negative news, South Africa remains a bastion of institutional integrity and continues to boast as one of the best-operating environments in Africa.
Morocco is hot on the heels of its North African peer, being No. 3 for the second consecutive year, buoyed by solid economic growth, favourable geographic positioning, sturdy infrastructure, strong regulatory policies and a stable political setting.