South Africa crowned African country of the future

London, 17 Aug-(ANA)-South Africa has been crowned top African country of the future for the third time in the fDi (foreign direct investment) Magazine’s report 2009/10

Egypt and Morocco were ranked second and third respectively in the competition which involved data collection from 59 countries.

Ranking top in the categories of economic potential, infrastructure and business

friendliness has helped South Africa to maintain the leading position overall, the report says adding that the country is regarded as one of the easiest places to do business in Africa.

In recent years, South Africa has attracted an increasing number of FDI projects, with figures rising from 60 FDI projects in 2003 to 114 projects in 2008.

Egypt closely followed South Africa, ranking highly in various categories, including the top position in human resources.

Egypt had one of the highest enrolments in tertiary programmes as well as the highest number of International Baccalaureate schools compared

with other African countries.

Morocco ranked consistently highly across most categories and ranked third overall, with our judging panel placing the country third in terms of

investment promotion.

In the same category, the judges were impressed with both Mauritius and Rwanda’s responses and as a result the countries were ranked first

and second, respectively.

Rwanda, Ghana and Malawi came out as the top destination countries for foreign investors in Africa in terms of cost effectiveness.

These top three countries had cost advantages with regard to registering a property, office and industrial costs, as well as having low minimum

wages.

The Seychelles climbed one position to rank top in the category of quality of life. Compared with other African regions, the Seychelles had the largest number

of tourists to the area, attracting 1.85 foreign visitors per capita. (ANA)

FA/ANA/17 August 2009---