Ghana and Nigeria the most favourable for investments in SSA – GBF report
West African countries, Ghana and Nigeria have been adjudged the most favourable countries for investments in Sub-Saharan Africa (SSA).
This is per the UAE’s Global Business Forum (GBF) survey conducted by the Dubai Chamber of Commerce & Industry and The Economist Group among 158 global leaders in trade and investment with regards to investment flows into and out of Sub-Saharan Africa (SSA).
Out of the surveyed 158 global investors, 94 global investors (60 percent of those surveyed) said they prefer to invest in Ghana and Nigeria to other SSA countries.
The two countries were selected by global investors ahead of countries such as South Africa, Rwanda and Kenya.
Indeed, per official data, Ghana and Nigeria are among the top five African countries with the highest share of foreign direct investment inflows on the Continent.
Ghana and Nigeria for 2020 amid the Covid pandemic both recorded FDIs of $2.6 billion, one of the highest on the Continent.
In terms of the ease of doing business on the Continent, Ghana was still a preferred choice for global investors, but Nigeria was however not.
Ghana and Rwanda were the preferred countries in SSA for investors with regards to the ease of doing business.
Nigeria, Ethiopia, Senegal and Ivory Coast were the least preferred countries by global investors.
The sixth edition of the Global Business Forum (GBF) Africa will be held on October 13-14, 2021 under the theme Transformation Through Trade.
Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, this year’s Forum is organized on the sidelines of Expo 2020 Dubai, a mega event bringing together 173 countries and 24 international organizations.
GBF Africa 2021 will shed light on the global economic recovery following the Covid-19 pandemic and its effects on trade and business around the world.
The high-level forum will take a closer look at Africa’s next phase of economic development in the Covid era and beyond, as discussions examine the role of cross-border collaboration in creating new business opportunities and driving sustainable growth across the continent.