Morocco has emerged as a major economic player on the continent, according to a report by African investment specialist bank RMB. The report, titled “Where to Invest in Africa in 2024,” ranks Morocco as the fifth most attractive investment destination in Africa for the upcoming year.
The report assigns Morocco a rating score of 0.30 points, underscoring the Kingdom’s appeal to foreign direct investors. It highlights Morocco’s strong performance across several metrics, including being the second most attractive African country for foreign investment after Egypt, fifth in social and human development, and 20th in economic stability and investment climate.
The RMB report notes that Morocco’s favorable standing in these areas offers it a competitive edge over many other African nations. It ranks 31 countries overall, with Seychelles at the top, followed by Mauritius, illustrating the competitive landscape for attracting investments in Africa.
However, the report also points out areas for improvement, particularly in personal freedom. Morocco is noted for scoring the second lowest on this metric, with recommendations for enhancing workplace participation for women as a potential area for economic growth.
Despite a decrease in foreign direct investment inflows from $2.26 billion in 2022 to $1.095 billion last year, Morocco remains a popular investment destination.
The Kingdom benefits from a positive business climate supported by its political and economic stability, along with significant advancements in infrastructure such as ports, airports, and transportation systems. Additionally, Morocco’s trade agreements and growing middle class present new investment opportunities across various sectors.
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