Investing in Africa can be seen as both a risk and a profit for future economic growth. With natural wealth and somewhat improving political landscape, some investors have ripped the rewards of investing in Africa.
According to Investing in Africa website, the World Bank released its latest Global Economic Prospects report in July 2014, suggesting that sub-Saharan Africa will once again be amongst the fastest growing regions in the world. According to the forecasts, seven Africa countries will particularly lead the group and each of them is expected to grow at a rate of 7% or more over the next three years.
If you are planning on investing in Africa, the countdown of these African countries (according to The World Bank report) is as follows:
7. Ethiopia – Average GDP Growth (2014-16): +7.0%
6. Tanzania – Average GDP Growth (2014-16): +7.2%
5. Rwanda – Average GDP Growth (2014-16): +7.3%
4. Chad – Average GDP Growth (2014-16): +7.5%
3. Mozambique – Average GDP Growth (2014-16): +8.4%
2. South Sudan – Average GDP Growth (2014-16): +8.5%
1. Sierra-Leon – Average GDP Growth (2014-16): +11.3%
However, in the case of Morocco, where one of the world’s largest solar energy projects has been launched, there has been a hesitation in the investment talks. Although, according to the latest report from The World Bank, investing in Africa may be a future economic growth, some investors may believe otherwise.
Reuters reported that Morocco has approached a number of foreign investors to fund a $9 billion solar power project. Morocco later announced that they will be installing two of the five planned sites in Western Sahara. Some European investors have backed down on investing in the planned plants due to the political feud in Western Sahara.
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