Rand Merchant Bank (RMB), published in late September its annual ranking of the most attractive African countries for investors during this pandemic period. North Africa is dominant, with Egypt and Morocco leading the investment destinations.
"While the pandemic has brought much devastation, it has also enabled opportunities to re-imagine policy and trade relationships," said RMB Africa economist Daniel Kavishe.
Aimed at investors looking for real assets in an economy or looking to develop physical businesses, this year's report assesses the impact of Covid-19 in these target countries.
The best investment destinations in Africa are usually ranked based on the principles of economic activity and business environment. However, this year's approach takes into account key factors such as tax scores and development plans, which are essential for attracting investment in the Covid-19 era.
Top 10 countries ranked according to investment attractiveness
Egypt

This country ranks first thanks to its flexibility in introducing measures to mitigate the effects of Covid-19. Although its economy was hit hard, it was also one of the first to resume a growth path.
Morocco

The Moroccan economy, secondly, takes advantage of the political stability in the country and the region. A special Covid-19 fund was created in 2020, representing 2.7% of GDP. Therefore, private actors would provide two-thirds and the government one-third.
South Africa

Africa's southernmost country - third on the list, however, the continent's most industrialized - offers a strong manufacturing and retail base that supports Southern Africa's regional economies with goods and services.
Rwanda

Rwanda, the fourth, continues to benefit from efforts made to improve its business operating environment. In addition, under the National Transformation Strategy (NST), several investments are expected to support the construction and energy sectors in the coming years.
Botswana

The fifth country has high foreign currency reserves that have allowed it to weather this economic instability better than most nations. As such, there is the Pula Fund - a sovereign wealth fund created in 1994 that finances much of the budget deficit - means that fiscal dependence on debt has been low.
Ghana

Ghana, sixth on the list, entered this crisis in a relatively stronger position than its African peers. So its economy has undergone major changes in recent years, positioning it for significant growth in the future. This is supported not only by primary sector industries, such as oil and gold, but also by the accelerating development of the tertiary sector.
Mauritius

Aided by an extremely favorable tax regime, its financial sector will continue to be a major driver of the country's economy in the coming years, mainly through cross-border investment activities and banking services.
Ivory Coast

Increased private investment should continue to foster construction, agro-industry, and services (trade, transport, and ICT, in particular). In this way, private investment will benefit from the impetus provided by public investment under the National Development Plan 2016-2020.
Kenya

The Kenyan government's efforts to ensure the implementation of the "Big Four" plan focusing on industrialization, universal health coverage, food security and affordable housing will invariably lead to rapid growth in economic activity.
Tanzania

In recent years, this country, which closes the ranking, neighboring Mozambique, is moving at a galloping pace towards development. Thus, progress can be attributed to consistent public investment by the government in the main secondary and tertiary sectors, ranging from the energy sector to advances in the telecommunications and finance sectors.