According to the Greenfield Performance Index 2020, 15 African countries are in the top 50 global performers in FDI relative to the size of their economy in 2019.

Togo and Rwanda, new entrants in the ranking, respectively occupy the 1st and 2nd places in the world.

According to this report entitled Greenfield Performance Index 2020, Togo achieves the best performance in the world. With an index of 10.83, the country attracted 11 FDI projects in 2019; which makes it the world number 1 in relation to the size of its economy. As a newcomer, it therefore exceeds the required average of at least 10 new projects attracted to integrate this ranking.

“Togo therefore attracts more than ten times the amount of Greenfield FDI one would expect given the size of its economy,” the report's authors said.

This large share of FDI attracted by Togo is due, among other things, to the double partnership signed in early November 2019 with the wealthy Nigerian businessman Dangote for the establishment of a phosphate processing plant ($2 billion) and the installation a cement manufacturing plant ($60 million). Moreover, financial services, construction materials and business services are the country's main FDI sectors and accounted for almost half (46.2%) of its inward FDI projects in 2019.

In the ranking, 14 other African countries stand out, including Rwanda (2nd with 10.61 points), Mozambique (4th with 8.97 points), Senegal (7th with 6.56 points) and Zimbabwe (8th with 5.91 points) who are in the top 10.

They are followed by Uganda (14th with 4.94 points), Kenya (15th with 4.78 points), Côte d'Ivoire (16th with 4.75 points), Morocco (17th with 4.64 points) and Tunisia (19th with 4.05 points).

Namibia (20th with 3.77 points), Zambia (21st with 3.62 points), Ghana (28th with 3.39 points), Cameroon (32nd with 3.08 points) and Egypt (42nd with 2.44 points) bring up the rear.

Greenfield Performance Index uses a methodology designed by UNCTAD for all FDI, and applies it only to greenfield FDI – excluding mergers and acquisitions, intra-company loans and other forms of cross-border investment.

Note that in total, the FDI of 101 countries were analyzed as part of the Greenfield Performance Index 2020. 75 countries obtained a score greater than 1 while 26 countries obtained a score of 1 or less.

A score of 1 indicates that a country's share of global FDI corresponds to its relative share of global GDP, a score above 1 indicates a larger share than indicated by its GDP, and a score below 1 indicates a weaker.

Moutiou Adjibi Nourou

Ranking of the 15 best African performers in terms of FDI, according to the Greenfield Performance Index

Rank (Africa) Country Score Rank (Global)

1 Togo 10.83 1st

2 Rwanda 10.61 2nd

3 Mozambique 8.97 4th

4 Senegal 6.56 7th

5 Zimbabwe 5.91 8th

6 Uganda 4.94 14th

7 Kenya 4.78 15th

8 Ivory Coast 4.75 16th

9 Morocco 4.64 17th

10 Tunisia 4.05 19th

11 Namibia 3.77 20th

12 Zambia 3.62 21st

13 Ghana 3.39 28th

14 Cameroon 3.08 32nd

15 Egypt 2.44 42nd