RMB’s guide to investing in Africa

RMB, a prominent financial institution, recently released their highly anticipated "Where to Invest in Africa Report 2024," shedding light on the top investment destinations on the continent. The report, which has been published annually since 2011, offers a comprehensive analysis of the economic performance, market accessibility, stability, and social aspects of various African countries, providing valuable insights for investors across the globe. In a recent interview on CNBC Africa, Isaah Mhlanga, Chief Economist at RMB, delved into the key findings of the report and highlighted the underlying drivers of investment attractiveness in the region. One of the standout revelations from the report was the unexpected top rankings of Seychelles and Mauritius, showcasing the significance of delving deeper into the methodology to understand the unique dynamics at play. Mhlanga explained that the report has evolved from a six-factor model to a more intricate 20-variable model, offering a more nuanced understanding of what truly drives economies in Africa. The four pillars of economic performance, market accessibility and innovation, economic stability and investment climate, and social and human development were identified as key components shaping the investment landscape in the region. According to Mhlanga, the report serves as a valuable tool for corporations, institutional clients, and policymakers, providing tailored insights to guide their investment strategies and policy decisions. He emphasized the importance of aligning business drivers with the underlying economic fundamentals of specific countries to maximize investment potential. Mhlanga also highlighted the role of impact investors in addressing the social and human development challenges in underperforming economies, underscoring the diverse opportunities present across the continent. As the RMB team prepares to engage with clients and policymakers to discuss the report in-depth, Mhlanga expressed optimism about the impact of the comprehensive analysis in shaping long-term investment decisions. While acknowledging the extensive nature of the report, spanning 159 pages of invaluable insights, Mhlanga emphasized its significance in empowering investors to make informed and strategic investment choices. The report's detailed analysis and meticulous research offer a roadmap for navigating the complex investment landscape in Africa, ultimately contributing to sustainable economic growth and development across the continent.