Building on the success of the 2024/25 edition, RMB has released its Where to Invest in Africa 2025/26 report, revealing the continent’s leading investment destinations and emerging opportunities. The latest report provides an in-depth analysis of economic trends, policy shifts and market dynamics shaping Africa’s investment landscape, helping investors and policymakers identify the most promising areas for sustainable growth and impact.
According to RMB Chief Economist Isaah Mhlanga, Africa’s investment outlook has evolved significantly over the past year amid a backdrop of political transitions, policy reforms, and shifting global alliances. “Elections across multiple countries, episodes of unrest and changes in the global financial system have all had measurable macroeconomic effects. Declining foreign aid and the redirection of global capital flows are reshaping how African economies engage with the world, moving from dependence toward resilience and self-determination,” noted Mhlanga.
Reflecting this transformation, the 2025/26 edition explores the theme “From aid to investment and trade,” highlighting a continental shift from traditional aid models toward partnerships grounded in commerce and private-sector participation. This transition marks a new era for Africa’s economic trajectory, driven by sustainability, innovation, and regional integration.
One of the standout stories in this year’s rankings is Zambia, which climbed five places from 20th to 15th position, demonstrating impressive resilience amid economic challenges such as drought, food security issues and power supply concerns. Despite these headwinds, Zambia achieved GDP growth of 4% in 2024, boosted by higher copper prices and strengthened investor confidence following successful debt restructuring. Moody’s recent upgrade of Zambia’s sovereign credit outlook to positive underscores the country’s improving fiscal stability. Ambitious plans to refine 60,000 barrels of oil per day and expand mining investments are expected to further drive growth and regional trade.
Meanwhile, the top five investment destinations remain unchanged from last year. The island nations of Seychelles and Mauritius hold the first and second spots, followed by Egypt, South Africa, and Morocco. While these economies remain stable and attractive, countries such as Nigeria, Mozambique, Côte d’Ivoire, Zambia and Senegal recorded the most notable movements in the rankings, reflecting the evolving dynamics of Africa’s diverse markets.
Looking ahead, Mhlanga emphasised RMB’s commitment to guiding investors through this period of transformation. He said, “We hope the Where to Invest in Africa 2025/26 report provides relevant insights to inform strategic decisions from policymaking to capital allocation. Africa’s future lies in partnerships that drive investment, trade and innovation, unlocking its potential as the next global growth frontier.”
