Nigeria Is Africa’s 19th Most Attractive Country For Investment
Nigeria is the self-acclaimed giant of Africa.
It is also Africa’s biggest economy.
But many investors around the would prefer to do business in East and Southern Africa, why?
They would rather do business in Botswana which is ranked as the most attractive economy for investments flowing into the African continent, followed by Morocco, Egypt, South Africa and Zambia.
According to the Africa Investment Index 2016 report which showed that Nigeria attracted a net Foreign Direct Investment of $3.1 billion, African investment destinations attracted an overall FDI of $13.6 billion.
The report was released on Monday by Quantum Global’s independent research arm, Quantum Global Research Lab.
Commenting on the report, the Head, Quantum Global Research Lab, Prof. Mthuli Ncube, said, “Despite the current economic challenges, we are quite confident on the medium to long-term market prospects. “Nigeria has earmarked a significant amount of capital to develop critical infrastructure in the country and there are various opportunities for public private collaboration providing investors’ returns on their investments.
“We anticipate that investment in infrastructure will underpin the growth of the economy and meet the needs of a large Nigerian growth population.”
On Nigeria’s economy, Ncube further said, “The short to medium-term focus of the Federal Government is to reduce imports and address primary sector blockages, such as roads, bridges, power, railway, aviation, water, housing, agriculture, education and health. Despite the current market volatility, Nigeria presents tremendous investment opportunities in these areas, which would not only support the local economy but also deliver significant yields to foreign investors.”