Africa’s investment landscape is undergoing a quiet transformation. The RMB Where to Invest in Africa 2025/26 report ranks 31 countries across 20 indicators grouped under four pillars: macroeconomic performance, market accessibility, innovation and stability, and human development.
As RMB notes, “Africa is navigating significant turbulence and transformations on multiple fronts, both geopolitically and economically.” Yet the report shows that stability and governance now outweigh sheer market size.
Smaller, well‑governed economies are steadily outperforming traditional heavyweights, while East Africa continues to anchor regional resilience.
Top 10 African Investment Destinations (2025/26)
| Rank | Country | Key Drivers of Ranking |
|---|---|---|
| 1 | Seychelles | Fiscal stability, low corruption, resilient recovery |
| 2 | Mauritius | Financial hub, blue‑economy innovation, regional gateway |
| 3 | Egypt | Gulf investment, privatisation, exchange‑rate flexibility |
| 4 | South Africa | Equity market gains, structural bottlenecks |
| 5 | Morocco | Infrastructure expansion, World Cup 2030 prep |
| 6 | Côte d’Ivoire | Export diversification, cocoa/cashew processing |
| 7 | Ghana | IMF/World Bank reforms, currency stabilisation |
| 8 | Ethiopia | Telecoms liberalisation, banking reforms |
| 9 | Tanzania | Mining and energy reforms |
| 10 | Kenya | East Africa’s anchor, green infrastructure |
Island Economies Sustain Their Lead
- Seychelles & Mauritius retained their top positions, reflecting fiscal discipline, low corruption, and resilient post‑pandemic recoveries.
- Mauritius is expanding its financial‑services reach across East and Southern Africa, positioning itself as a gateway for sustainable finance and blue‑economy innovation.
North Africa: Reform Momentum Builds
- Morocco: IMF projects 3.5% growth in 2026, supported by investments in transport, desalination, and renewable energy.
- Egypt: Ranked third, with IMF forecasting 4.5% growth in fiscal 2025/26, driven by privatisation and exchange‑rate flexibility.
Southern Africa: South Africa Lags Despite Market Gains
- South Africa: Growth projected at 1.8% in 2026, the slowest among major economies.
- Equity markets show resilience, with the JSE All Share Index gaining 14.7% in H1 2025, its strongest start since 2006.
West Africa: Divergent Fortunes
- Côte d’Ivoire: Climbed eight places, underpinned by export diversification and capital‑market maturity.
- Ghana: Stabilising under IMF and World Bank programmes, with 4.3% growth projected in 2026.
- Nigeria: Dropped from 9th to 18th place amid subsidy removals and currency volatility, though IMF still projects 4.2% growth in 2026.
East Africa: Stability Anchors Growth
East Africa rounds out the Top 10, with Kenya firmly positioned as the region’s anchor.
| Country | 2026 Growth Projection | Key Investment Drivers |
|---|---|---|
| Kenya | 5.1% | Fiscal tightening, green infrastructure, regional anchor |
| Tanzania | ~4.5% | Mining, energy reforms, fiscal discipline |
| Ethiopia | ~5% | Telecoms & banking liberalisation, political headwinds |
| Uganda | ~4.2% | Oil & gas projects, governance challenges |
| Rwanda | ~4% | Ease of doing business, policy predictability |
Africa’s FDI Inflows Plunge 42% in Early 2025 Amid Global Investment Headwinds
- Kenya remains East Africa’s economic anchor, with green infrastructure and fiscal tightening supporting resilience.
- Tanzania gains traction through mining and energy reforms.
- Ethiopia continues to attract capital through liberalisation despite political risks.
- Uganda’s oil projects underpin growth, though governance challenges persist.
- Rwanda scores high on governance and predictability, though market size limits scale.
Africa’s Next Growth Frontier
RMB concludes that Africa’s shift “from aid to trade and investment marks a defining moment.” With resilience, reform momentum, and demographic potential, the continent is poised to be a key frontier for long‑term global investors.
East Africans Trade More as EAC Intra-Regional Commerce Hits USD 18 Billion
