RMB Where to Invest in Africa 2025/26 spotlights Africa’s top investment destinations

Building on the success of the 2024/25 RMB Where To Invest In Africa (WTIIA) publication, RMB has unveiled the 2025/26 edition of the WTIIA report, offering fresh insights into the continent’s top investment prospects. The report provides a clear view of the factors shaping each country’s investment landscape, helping investors and policymakers identify where the greatest opportunities for growth and impact lie. 

“Over the past year, Africa’s investment landscape has been shaped by significant political and policy developments. Elections across multiple countries, episodes of unrest and policy uncertainty, and the global fracturing and reorientation have all had measurable macroeconomic effects. Changes in the political and the subsequent policy environment and declining foreign aid, coupled with the redirection of global capital flows, are reshaping how African economies engage with the world, moving from dependence toward resilience and self-determination,” says Isaah Mhlanga, Chief Economist at RMB. 

Against this backdrop, the 2025/26 report explores the theme “From aid to investment and trade”, reflecting a broader transition underway across the continent. As traditional aid models give way, new opportunities are emerging for partnerships driven by investment and commerce. In this evolving landscape, African nations are redefining their growth trajectories, prioritising sustainable development, regional collaboration and private-sector participation as key drivers of progress. 

Built on robust methodology and metrics

The report, which has been developed in collaboration with the Gordon Institute of Business Science (GIBS), analyses 31 African nations, which represent 90% of the continent’s GDP, 83% of the population, and 61% of the total land mass. It explores the opportunities and complexities of investing in the diverse African economic landscape, incorporating macroeconomic, markets and demographic data in the form of 20 distinct metrics, which are categorised into four pillars to reflect each metric’s impact on the economy. 

The scoring system assesses these nations through four key pillars: economic performance and potential; market accessibility and innovation; economic stability and investment climate; and social and human development. These criteria help to build a

balanced and data-driven view of investment attractiveness across the continent. 

The report’s index focuses on fundamentals and structural elements that shift slowly over time, so country rankings typically remain relatively stable from year to year. This year’s results reflect the impact of shifting political and economic conditions across the continent. While 11 countries retain their positions from last year, and 22 countries have moved two or fewer positions, seven countries have moved between two and four positions, and six countries have moved five or more positions in the rankings. These significant shifts in rankings reflect the result of either currency devaluations, data restatements or foundational changes. 

Top investment destinations

The top five countries remain unchanged from the 2024/25 edition. The small island economies of Seychelles and Mauritius retain their rankings of first and second places, with their scores reflecting small but appealing markets. The significantly larger economies of Egypt, South Africa and Morocco remain ranked in third, fourth and fifth places, respectively. 

Expanding our model to include exports, growth and money

While the Where to Invest in Africa index has always been based on robust methodology, which was updated for the 2024/25 report, there are additional factors at play in the current climate. Foreign aid to Africa is diminishing, and the international order of global trade is being reshaped. To help understand the drivers, risks, vulnerabilities, and opportunities of the continent considering these, the 2025/26 report introduces three models that give more nuanced insight into the workings of our 31 markets of interest. 

Fuelling the African growth story

“We hope that the 2025/26 edition of the Where to Invest in Africa report provides relevant and practical insights to help guide decision-making, whether it be the formation of policy, allocation of capital, or one of the many other strategic calls leaders are required to make. We invite you to partner with us to grow your businesses in Africa and help the continent to take the next step in its transition, moving beyond dependence and unlocking its potential as a leading growth frontier,” Mhlanga concludes. 

Explore this year’s insights in the 2025/26 edition of Where to Invest in Africa. Download the full report here.