Uganda, Kenya, Tanzania, also ranked
Rwanda | THE INDEPENDENT | Rwanda has re-entered the Top 10 list after having just missed it the past two years, according to Rand Merchant Bank’s latest `Where to Invest in Africa report for 2018’, released on Sept.18.
The theme for `Where to Invest in Africa 2018’ is “Money Talks” and this edition “follows the money” on the African continent to evaluate aspects crucial to each country’s economic performance.
In this edition of Where to Invest in Africa 2018, RMB’s Investment Attractiveness Index, which balances economic activity against the relative ease of doing business, illustrates how subdued levels of economic activity have diluted several scores on the index when compared to last year, resulting in some interesting movements within the Top 10.
The report focuses on the main sources of dollar revenues in Africa, which allows it to measure the most important income generators and identify investment opportunities. The 2018 report also balances economic activity against the relative ease of doing business.
Rwanda came in at 8th position in a report in which the East African region managed to capture four of the top ten spots.
Kenya, Tanzania, and Ethiopia were the other countries which made it into the top ten from the East African region.
Uganda was, however, the only surprise absentee from the East African region since South Sudan, Somalia, and Burundi are war-ravaged basket case economies.
The research shows, furthermore, that Uganda is steadily closing in on the Top 10 though market activity is likely to remain subdued after a tumultuous 2016 marred by election-related uncertainty, a debilitating drought and high commercial lending rates.
Rwanda’s re-entry is the more dramatic because, according to the report, market size is a key consideration in the report’s compilation methodology.
The report, for example, points out that countries like Botswana, Mauritius, and Namibia that are widely rated as investment grade economies, they do not feature in the report’s Top 10 mostly because of the relatively small sizes of their markets.