Morocco continues to be an attractive destination for investors in Europe, the US, and China. The country ranked second, scoring higher than South Africa and Nigeria.
A recent study has listed Morocco among the top countries for investment in Africa.
South Africa-based Rand Merchant Bank (RMB) released its annual top ten list of the most fruitful investment opportunities on the continent. Among the top ten, Morocco landed in 2nd place, behind Egypt and ahead of South Africa, Kenya, and Rwanda.
The study noted Morocco’s attractiveness as the continent’s fifth-largest business market. The Moroccan economy also continues to “benefit from political stability,” something that is lacking in many of the other countries in Africa, RMB suggested.
The Moroccan government’s initiative to gather funds to support the national economy during COVID-19 was also listed as a major boon for the resilience and stability the country’s economy has shown in recent months.
This year’s RMB report shows Morocco retained the same position as in 2020, suggesting the country’s continued relative stability despite the COVID-19 crisis.
Although affected by the pandemic-induced economic recession, Morocco’s COVID-19 recovery funds represented 2.7% of the national GDP and continued to be a major contributor to its stability.
Among Morocco’s other benefits are its rapid technological growth, and this has been encouraged by various government initiatives. The country’s location also provides an opportunity for many western countries to utilize it as an opportunity to gain an investment foothold in the rest of Africa.
According to the RMB report, Morocco, for all its positive economic performance during the pandemic, has been lacking in terms of infrastructure development. The report hastened to add, however, that such a lack of development in the infrastructure sector also provides an opportunity for foreign investments.
Africa currently holds the majority of the global reserves in gold, chromium, and platinum. These extensive resources, in conjunction with a steadily improving urban sector and educated population, has continued to make the continent one of the most attractive investment locations for major companies in Europe, the US, and China.
