Top 10 Best Countries To Invest In Africa (2022)

We compiled a list of the top 10 best countries to invest in Africa, in 2022. No doubt, Africa’s economies have enormous investment potential, providing lucrative prospects for investors and partners.

According to investing experts like Investopedia and the Africa Company Opportunities Dashboard, the continent is worth the focus. We have success stories from investors who have invested their money and have seen high success rates and significant returns from their African business investments.

Since you are looking for the best countries to invest in Africa, that will promote economic progress and earn a profit on your investment? Take a look at the countries highlighted in the table below. According to Statista, these countries have the largest Gross Domestic Product (GDP). That is the primary criterion we will use in this post.

Top 10 Best Countries To Invest In Africa

The table below contains the name, GDP, and populations of the top 10 best countries to invest in Africa

1. Nigeria

The first country on the list of the top 10 best countries to invest in Africa, is Nigeria. After missing out on the Rand Merchant Bank’s list of nations to invest in for 2021, Nigeria had a great year.

According to Statista, the country’s gross domestic output reached $514 billion in 2021, making it the African country with the highest GDP. According to the National Bureau of Statistics, Nigeria’s GDP increased by 4.03 percent in the third quarter of 2021. (NBS).

The figures mark the fourth straight quarter of increase, but they are lower than the 5.01 percent achieved in the second quarter of 2021. According to Trading Economics, communication, information, and services account for 10% of total output. Agriculture, natural gas, and crude petroleum account for 11%, while construction, industry, and main exports account for 16% of GDP.

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2. Egypt

Egypt has a population of over 105 million people, according to the World Population Review. The country’s GDP grew by 9.8% in the first quarter of the fiscal year 2021-22, which began in July 2021. According to available data, Egypt will be one of the richest African countries in terms of total GDP in 2022.

Egypt has the second-highest GDP in Africa, at $394 billion dollars. Despite the consequences of the pandemic, Egypt’s GDP increased in 2021. The country has a diverse economy that benefits from fossil fuels, agriculture, and tourism, making it a great investment destination.

3. South Africa

The most developed country in Africa is South Africa, according to Trading Economics, with services accounting for 73 percent of GDP. South Africa’s GDP was $329.53 billion in 2021, according to available data. Business and government services, real estate, banking, communication, and transportation all contribute to the country’s GDP.

Furthermore, according to Bloomberg, Africa’s most industrialized economy could rise by 2% in 2022 and 2.1 percent in 2023. With the continent’s largest stock exchange, macroeconomic stability, and lucrative prospects in social services spending.

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4. Algeria

Another country on the list of the top 10 best countries to invest in Africa, is Algeria. The country’s renewable energy, tourism, and liquidity reserve are all potential areas for foreign direct investment.

The country’s economy is based on oil and gas, which accounts for 60% of the government’s budget. According to Statista, the country in Northern Africa has a GDP of $151.46 billion in 2021. The country now offers profitable economic chances to investors thanks to new legislation encouraging international investment.

5. Morocco

The fifth country on the list of the top 10 best countries to invest in Africa, is Morocco. According to available data, Morocco has the fifth largest economy on the African continent in terms of GDP.

Morocco’s GDP was $124 billion in 2021, according to Statista. Agriculture, investments, the government, and the housing industry all have a role in growth. The country’s economic growth is expected to reach 3.2 percent in 2022, according to forecasts.

6. Kenya

Kenya’s economy is likely the most advanced in Central and East Africa. The country’s resilient economy, according to the World Bank, could grow at 4.9 percent in 2022, thanks to good economic policies, management, and varied sources.

Kenya’s GDP is expected to expand beyond its current level in 2021, to $107 billion in 2022 and $110 billion in 2023, according to Trading Economics. Kenya is an outstanding investment destination in 2022, with substantial demand for goods and services, a strong economy, and a pleasant business climate.

7.  Ethiopia

Here is an amazing country on the top 10 best countries to invest in Africa, in 2022. Ethiopia is a lucrative investment destination, ranking as the second largest African flower exporter and one of the world’s major coffee producers.

The country has a population of about 115 million people, according to the World Bank. Between the financial years 2019 and 2020, the country’s economy grew by 6.1 percent. Despite the ongoing war in the country, the country’s GDP was $93.97 billion.

Investors can profit from Reuter’s forecast that Ethiopia’s economy would grow by 8.7% in 2022.

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8. Ghana

The country has a population of over 30 million people, according to Worldometer. Ghana’s economy expanded by 3.9 percent and grew by 6.6 percent in the third quarter of 2021. Her fastest GDP growth rate since the Covid-19 outbreak, according to research.

According to Statista, the country’s GDP was $74.26 billion by the end of 2021. Ghana is aiming for a 5.8% GDP rise, according to CNBC Africa, with cocoa beans, crude oil, and mineral output providing the majority of the advantages.

9. Angola

Angola has a lot of oil and gas reserves, as well as agricultural land. According to a report on investment risks and prospects in Angola, the country is Africa’s second-largest oil producer. Angola’s GDP is $66.49 billion, according to Statista. According to Trading Economics, the country’s GDP could reach $100 billion by 2022.

Angola’s GDP is boosted by trade, transportation, storage, building, and fishing. For investors, these areas promise growth prospects.

10. Ivory Coast

The last country on the list of the top 10 best African countries to invest in, is Ivory Coast. It is a popular investment destination in West Africa since it has one of Africa’s fastest-growing economies. According to available data, the country is a business hub with lucrative potential for investors. Ivory Coast’s GDP was $70.99 billion in 2021, according to Statista.

According to the African Development Bank, Ivory Coast’s GDP could expand by 6.5 percent by 2022. The growth is being driven by transportation, construction, agriculture, and petroleum products, according to the report.

Conclusion

Consider doing your study before investing now that you know the top 10 best countries to invest in Africa. Before you invest your money, think about the business climate and political concerns.

Instead of investing blindly, do your homework on the growth, liquidity, and risk variables to avoid losing money. Other considerations such as corporate tax, exchange rate, inflation, and financial crises must also be considered.

Top 10 Best Countries To Invest In Africa

The table below contains the name, GDP, and populations of the top 10 best countries to invest in Africa.