Morocco Remains Africa’s Top Performer in Attractiveness and Stability

Doha – The Amadeus Institute’s 2024 Africa Attractiveness and Stability Indices reveal Morocco’s continued dominance in continental rankings, securing first place in attractiveness with a score of 77.45 and second place in stability with 76.04 points.

Published yesterday, the 12th annual report shows Morocco excelling across key metrics. The comprehensive indices were developed in partnership with the Casablanca Finance City Authority (CFCA).

“The Moroccan regulatory quality score of 82.25 indicates a favorable business environment, supported by quality infrastructure and entrepreneurship support policies,” the report states.

The country also achieved a strong “Productivity of Factors” score of 77.75, highlighting its qualified human resources and well-developed financial system.

In analyzing Morocco’s performance, the report emphasizes three critical strengths. First, the country maintains robust Foreign Direct Investment flows, “ranking among the top 3 African countries in FDI attraction during 2019-2024.”

Second, economic diversification has created “dynamic industrial hubs in automotive, aeronautics, and renewable energy sectors,” reducing vulnerability to external shocks.

The third pillar of Morocco’s success lies in its business environment. The report notes that “the Moroccan regulatory framework is among the most attractive in Africa, with transparency, favorable taxation, and modern infrastructure supporting a stable business climate that attracts numerous international investors.”

Morocco’s stability score also improved, gaining one position to reach second place. The report attributes this to “political stability in a region marked by tensions,” highlighting the country’s “rapid and coordinated response to the Al Haouz earthquake in 2023” as evidence of effective crisis management capabilities.

Read also: Report: Morocco Pursues Stability and Growth Through Reforms

In the broader continental context, the rankings show South Africa (76.88) and Egypt (75.80) completing the top three in attractiveness, while Mauritius leads the stability index. The report analyzes 54 African nations using over 70 sub-indicators across multiple categories including market dynamics, regulatory quality, and productive factors.

The indices reveal significant regional variations. While North Africa shows strong performance in both metrics, several sub-Saharan nations face challenges. The report notes that “countries affected by conflicts, such as Sudan, or coups d’état, like Gabon, Burkina Faso, and Niger, lose attractiveness due to deteriorating regulation and productivity factors.”

Looking at specific components, Morocco scores particularly well in “Quality of Regulation” (82.25/100), surpassing regional competitors. The country’s “Market Potential and Dynamics” score of 70.75 reflects its strategic position and growing market opportunities.

Significantly, the report emphasizes Morocco’s unique achievement as “the only North African country to be firmly anchored in the continental ‘Top 5’ of the Stability Index since its creation.” This consistency underscores what the report describes as the country’s “structural resilience” and ability to navigate regional challenges effectively.

The methodology employed combines international data sources with national statistics to provide comparative analysis across three main pillars: market potential (30% weighting), regulatory quality (35%), and quality of productive factors (35%).

These rankings serve as crucial indicators for international investors, with the report noting that “stability and transparency promote sustainable growth and a conducive business climate.”

The analysis particularly emphasizes the interdependence between political stability and economic attractiveness, suggesting that institutional strength directly correlates with investment appeal.

The report concludes by highlighting Morocco’s role as a regional economic driver, noting its position as “the leading African investor in sub-Saharan Africa in terms of FDI, with a total amount of 836 million dollars in 2023,” demonstrating the country’s growing influence in continental economic development.