TOP 5 AFRICAN COUNTRIES TO INVEST IN 2022
Most Countries in Africa provide economic and lucrative investment opportunities to several business partners. In the past decade, there has been a significant increase in earnings and measures to help reduce poverty. Below is a list of 5 African countries to invest in in 2022.
LIST OF AFRICAN COUNTRIES TO INVEST IN 2022
1. FIRSTLY, NIGERIA
In 2021, Statistics showed that Nigeria’s gross domestic output had reached $514 billion. However, in the third quarter, it increased by 4.03 percent. Some of the areas which make Nigeria one of the best African countries to invest in include the following. Economics, construction, industry, and principal exports. Other areas in which they excel include natural gas and crude petroleum.
2. SECONDLY, EGYPT
With over 105 million people in Egypt, their GDP rises by 9.8%. Egypt boasts of its large economy. In the past years, Egypt has attracted more than 10% of FDI into Africa. It also invests in major industries like automotive, agriculture, and ICT.
3. THIRDLY, BOTSWANA
One of the fastest-growing economies in Africa is Botswana. The economy grows annually by 9.7%. The GDP rate of the country also expands at a rate of 4.3% every year. The country is also making efforts to be a net exporter of electricity. It has also invested in solar energy and will soon become one of the world’s leading producers and exporters of solar energy.
4. NEXT TO THE ABOVE IS TANZANIA
In 2020, Tanzania was classified as a lower-middle-income country. However, their GDP has been rising steadily since that year. It has risen to such an extent that they were listed among the world’s fastest-growing economies. Tanzania also provides opportunities for business partners and investors in several ways.
5. LAST BUT NOT LEAST IS MOROCCO
Data shows that Morocco is the fifth African country with the largest economy. Its GDP has continuously risen yearly since 2016. Recently, it launched the Green Generation agriculture strategy. The main aim of this initiative is to promote and encourage young citizens to invest in arable land. By so doing, it will help create employment opportunities and increase agricultural exports in the country.
There are several other African countries that have proven to have substantial growth in their economy. Such countries include Algeria, South Africa, Ivory Coast, and Ethiopia. Before investing in any of these countries, make sure you inquire about the business environment as well as the liquidity and risk variables.
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