Where to Invest in Africa 2025/26 Report
The Where to Invest in Africa 2025/26 report by Rand Merchant Bank (RMB), in collaboration with the Gordon Institute of Business Science, provides a comprehensive overview of the attractiveness of African countries for foreign and national investors. This analysis covers 31 economies, representing 90% of the continent's GDP, 83% of its population, and 61% of its land area, offering a robust reading of the structural fundamentals that matter to medium- and long-term investors.
Top Investment Destinations in Africa
According to the report, Seychelles and Mauritius remain at the top of the ranking, occupying 1st and 2nd places as the continent's top investment destinations. Despite their small size, these economies benefit from strong macroeconomic stability, low corruption, and high human development, three key factors that inspire confidence in international investors.
Major African Economies
Behind them, the major African economies continue to stand out:
- Egypt ranks 3rd, thanks to its large domestic market and attractive structural reforms.
- South Africa and Morocco occupy 4th and 5th places, driven by sophisticated markets and robust infrastructure.
- Ghana, Algeria, Côte d'Ivoire, Tanzania, and Kenya complete the top 10, each benefiting from specific dynamics such as economic diversification or industrial growth.
Methodology
The report does not simply rank countries based on general impressions. It relies on 20 indicators grouped into four pillars, which systematically measure a country's ability to attract and retain investments. The first pillar concerns economic performance and potential, taking into account GDP growth, GDP per capita, market size, and productivity. The second pillar focuses on market accessibility and innovation, evaluating connectivity, urbanization, innovation capacity, and adoption of new technologies. The third pillar analyzes economic stability and the investment climate, examining inflation, monetary stability, governance, and the business environment. Finally, the fourth pillar looks at social and human development, considering education levels, health indicators, inequality, and quality of life. These four dimensions enable a robust ranking, based on structural fundamentals rather than perceptions or temporary fluctuations.
Tunisia's Ranking
In this ranking, Tunisia is situated in the middle of the table (generally around 12th position according to most estimates and data in the report), reflecting a combination of modest strengths and persistent structural problems.
