by 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 shifting global alliances 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.
Zambia’s recent economic growth is a story of resilience
Zambia was one of the biggest movers in this year’s rankings, rising five places from 20th to 15th place, and demonstrating its resilience in the face of drought, food security issues and electricity supply concerns. Despite these economic and humanitarian challenges, Zambia’s GDP grew by 4% in 2024 thanks to increases in the price of copper, although volatility of commodities prices could be a threat in the long term. Debt restructuring has improved the country’s financial position, which will lower risk premiums and revive investment appetites. Recently, Moody’s upgraded the country’s sovereign credit outlook to positive. Increased activity and investment in Zambia’s mining sector, as well as ambitious plans to process 60,000 barrels of oils a day to meet all local fuel needs and enable future exports to neighbouring countries, suggest continued economic growth.
The top investment destinations and shifting economic climates
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.
In contrast to the top five countries, which remained stable from last year, there are a few that experienced significant shifts both up and down the rankings: Nigeria, Mozambique, Côte d’Ivoire, Zambia and Senegal all moved five or more places between the 2024/25 and 2025/26.
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.
