Ghana has retained its position as the 6th most attractive investment destination in Africa for the third consecutive year, according to the newly released RMB Where to Invest in Africa 2026/27 report.
Periodically published by Rand Merchant Bank (RMB), the publication evaluates economic opportunities across 31 African nations, highlighting Ghana’s standing as a leading investment destination in West Africa.
What Goes into the Rankings?
The RMB report evaluates long-term investment attractiveness using a standardized statistical mode Rather than relying solely on gross domestic product (GDP) size or headline growth, the model incorporates 20 distinct metrics divided into four core pillars.
The first metric is the Economic Performance and Potential which carries a 35% weight. It measures GDP size, per capita income, growth forecasts, population scale, and urbanization.
Economic Stability and Investment Climate follows with a 25% weight. This metric assesses foreign exchange stability, government debt levels, inflation, political stability, and economic freedom.
The third is Market Accessibility and Innovation with a 20% weight. This evaluates global trade connectedness, economic complexity, innovation, and import concentration.
The last metric is Social and Human Development which also carries a 20% weight. This examines human development scores, income inequality, personal freedom, and unemployment.
To combine diverse indicators fairly, such as comparing per capita dollar income with corruption scores, all data points are converted into statistical Z-scores, where a score of zero represents the continental average.
Why Ghana Maintained Its 6th Rank
Ghana earned an overall Z-score of +0.27, securing the 6th spot across the 2024/25, 2025/26, and 2026/27 editions of the current model. The report describes Ghana’s performance as a “gold-plated revival” following its 2022 macroeconomic crisis.
Anchored by a US$3 billion IMF Extended Credit Facility program, Ghana engineered a broad recovery marked by strong GDP growth (6.0% in 2025 and 6.4% in early 2026), record gold export earnings of approximately US$21 billion, and rapid disinflation.
Furthermore, Ghana’s peaceful December election and democratic transfer of power reinforced its high standing under the Good Governance pillar. However, the report indicated that while lingering debt burdens from its 2022 default limited a leap into the top five, Ghana’s solid fundamentals provided enough resilience to hold its rank firmly.
The Top 10 Investment Destinations in Africa
According to the RMB report, the top 10 investment destinations on the continent are
Seychelles (+0.80 Z-score) – 1st place
Mauritius (+0.64 Z-score) – 2nd place
Egypt (+0.48 Z-score) – 3rd place
Morocco (+0.42 Z-score) – 4th place
South Africa (+0.35 Z-score) – 5th place
Ghana (+0.27 Z-score) – 6th place
Côte d’Ivoire (+0.17 Z-score) – 7th place
Algeria (+0.16 Z-score) – 8th place
Ethiopia (+0.16 Z-score) – 9th place
Tanzania (+0.15 Z-score) – 10th place
The RMB report underscores that Ghana’s consistent standing reflects an economy successfully transitioning from emergency stabilization toward long-term growth.
