Kenya ranked 6th best investment destination in Africa

Kenya has been ranked as the 6th best investment destination by South Africa’s Rand Merchant Bank report released last week.

Egypt was ranked first toppling , South Africa, Morocco, Ethiopia and Ghana.

The report themed ‘Where to invest in Africa in 2018’ ranked Kenya number six, a drop from last year’s fifth position.

The decline is due to Ethiopia’s rise to fourth position from last year’s seventh position mainly due to its budding economy supported by: a young population, low labor charges, and thriving manufacturing sector, as per the RMB Report for 2017.

According to the report, Kenya has maintained a diverse economic structure, pro-market policies and a sharp growth of consumer spending and thus one of the best investment destinations in the continent.

The report focuses on main sources of revenues as well as a nation’s investment opportunities and the measures effected to enhance business.