South Africa Drop to 4th Most Attractive Investment Destination in Africa

• Rand Merchant Bank's 'Where to invest in Africa Report' gives investors a detailed breakdown of 31 countries in Africa
• The analysis uncovers Africa's premier investment economies and provides insights for investors, policymakers, and business leaders.
• A drop in GDP and disastrous unemployment figures are the main factors to cause South Africa's drop in rankings.

JOHANNESBURG—The 'Where to invest in Africa' report was presented yesterday. South Africa's GDP has slipped to second behind Egypt in 2023, and hence, we have dropped into fourth place as the most desirable nation in Africa to develop businesses in.

Among the 31 countries, South Africa secured first place in market accessibility and innovation, fifth place in economic performance and potential, seventh place in economic stability and investment climate, and 29th place in social and human development.

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South Africa ranks in top 3 African passports, Gabon added to visa-free list

Officially, over 30% of the country's population is unemployed. The situation is even more severe among young people aged 15 to 34, with an unemployment rate of 45.5%, as stated by BusinessTech.

“Africa is not a country, but a vast, diverse and complex continent with different cultures, economies and investment potential. Our report therefore is not a definitive guide, but rather it is designed to provide insight to uncover the underlying drivers of a country’s performance that inform its ranking. This offers invaluable insights for investors, policymakers, and business leaders looking to navigate Africa’s dynamic economic landscape,” says Isaah Mhlanga, Chief Economist at RMB on Africa.com

Rankings of African countries

Scored based on 20 metrics, in four core categories

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1. Economic performance and potential
2. Market accessibility and innovation
3. Economic stability and investment climate
4. Social and human development

South Africa Ranks in Top 3 African Passports

In related news, Briefly News reported that according to the newly released index by Henley & Partners, Seychelles, Mauritius, and South Africa hold the top three passports in Africa. Gabon has recently become a visa-free destination for South Africans, aiming to boost its tourism sector. South Africans can now travel to 106 destinations without a visa, enhancing the passport's value and appeal.

The latest global passport index has been published, showing an improvement for South Africa. Our passport is now ranked as the third most powerful in Africa.

Source: Briefly News