Ghana is ranked 6^th in Africa as the most attractive investment country in Africa in 2024, Rand Merchant Bank (RMB) ‘Where to Invest in Africa 2024’ report has revealed.

The nation had an overall score of 0.24.

For Innovation, it scored 0.549, placing 9^th whilst it had 0.935, placing 5^th in the Growth Structure.

It also placed 6^th in Economic Stability and Investment Climate (0.27)

The country however placed 10^th in Urbanisation (0.553) and 6^th in Connectedness (0.850), whereas it placed 26^th in Complexity.

The report stated that “Ghana represents a substantial market. Further, it is among the top ten for urbanisation, connectedness, innovation, political stability, personal freedom and employment. It also ranks favourably on corruption and tops the list on import concentration”.

The reported noted that there are positive signs on the fiscal front.

“Fiscal consolidation is broadly on track, with an estimated deficit of 4.6% of GDP [Gross Domestic Product] at the end of 2023, significantly lower than the 10.7% deficit in 2022. At 15.7% of GDP in 2023, revenues and grants reached the same level as 2022 despite lower oil revenues”, it stressed.

By 2027, growth is forecast to benefit from increased gold and oil exports as new projects come online.

Seychelles came first with a score of 0.72%. It was followed by Mauritius (0.69) in 2^nd position and Egypt (0.49) in 3^rd.

In 4^th and 5^th positions were South Africa (0.33) and Morocco (0.30).

In the current edition of the RMB Where to Invest in Africa report, it maintained that the investment decision needs to be viewed through both an economic performance lens and an operating environment lens.

Thus, building on the previous work, it packaged this data as:

1. Economic performance and potential

2. Market accessibility and innovation

3. Economic stability and investment climate

4. Social and human development

The four pillars are constructed from a total of 20 metrics, each comprising a multi-year database of robust figures drawn from pre-eminent institutions.

The 2024 RMB Where to Invest in Africa report is based on the input of experienced professionals and, in part, on work published in peer-reviewed journals to expand on our earlier model. The quantitative model underlying this report stands on the shoulders of the work done on prior editions.