A LATEST investment index by Quantum Global Group has ranked Zambia the fifth most attractive investment destination in Africa. Quantum Global is a group of companies offering investment expertise in a range of activities while identifying unique gateway opportunities between African and global markets.
In its latest independent research, Quantum Global Group ranks Zambia the fifth most attractive investment destination on the continent due to the country’s significant domestic investment and access to money supply according to the report which ranks Botswana as the top most attractive country in Africa, followed by Morocco, Eygpt, South Africa and Zambia. The top five African investment destinations attracted an overall foreign direct investment (FDI) of US$13.6 billion.
Quantum Global research lab’s newly released Africa investment index aims at providing investors in Africa with a guide of the countries and markets most attractive for investment in the short to medium term. “Despite considerable external challenges and the fall in oil prices, many of the African nations are demonstrating an increased willingness to achieve sustainable growth by diversifying their economies and introducing favourable policies to attract inward investments.” head of the research lab, Professor Mthuli Ncube, said.
Economics Association of Zambia president Chrispin Mphuka said Zambia’s fifth ranking is good for the country’s investment portfolio. He stressed that the ranking should be sustained so that the country can attain higher levels of economic growth.
The index was constructed from macroeconomic and financial indicators and the World Bank Group’s Ease of Doing Business Indicators (DBI). The DBI ranks countries in terms of a regulatory environment conducive to business operation. “With a population of over one billion people and rapidly growing middle-class, Africa clearly offers significant opportunities to invest in the continent’s non-commodities sectors such as financial services, construction and manufacturing amongst others,” Mthuli added. “However, structural reforms and greater private sector involvement are crucial to unlocking Africa’s true potential.”