South Africa remains the highest ranked African economy.
Grant Thornton’s recent report entitled “Emerging Markets Opportunity Index: high growth economies” has ranked South Africa as the leading emerging economy on the African continent, ahead of Nigeria in terms of potential investment destinations.
In terms of the results for 2012, South Africa is also the only African country to be ranked in the Top 15 emerging economies worldwide.
Deepak Nagar, national chairman, Grant Thornton South Africa says, “Although recent events in the mining sector have hurt our country’s reputation as a destination of choice for foreign direct investment (FDI) there are significant benefits that continue to attract investors.”
The Grant Thornton emerging markets opportunity index brings together a number of key indicators incorporating the firm’s International Business Report (IBR) data with the emerging markets research from the World Bank, the International Monetary Fund (IMF) and the United Nations Human Development Report. Indicators incorporated include factors such as economic size, population, wealth, involvement in world trade, growth prospects and levels of development in order to rank the 27 largest emerging economies in terms of their potential for business investment.
Further reported is that SA has climbed one place to 14th in terms of global rankings in the Emerging Economies survey, maintaining its position as the highest ranked African economy, ahead of Nigeria which climbed nine places to 17th.
“With Nigeria improving its ranking by nine places since the previous survey, South Africa will need to improve its competitive edge in order to maintain its leading ranking in the years to come,” says Nagar.
The only other two African countries to be ranked in the Emerging Markets Opportunity Index were Egypt (22nd) and Algeria (26th).