Rand Merchant Bank and the Gordon Institute of Business Science released their annual report on business opportunities in Africa this Monday, October 27, 2025: Ivory Coast and Ghana stand out from the pack.
The two West African nations distinguish themselves particularly in this continental ranking. Ghana occupies sixth position. Ivory Coast climbs to eighth place. These performances place the two neighbors in the exclusive circle of the continent’s ten most attractive economies for the 2025-2026 period.
The document examines 31 African economies that together represent 90% of continental GDP. Evaluation criteria include exchange rate stability, corruption levels, human development, and innovation. In this configuration, Seychelles and Mauritius maintain their usual dominance. Behind them, Egypt, South Africa, and Morocco complete the continental podium.
Ivory Coast achieves the most spectacular progression in the ranking. The country gained eight places compared to the previous edition. This rise reflects diversification efforts undertaken in Abidjan.
According to Isaah Mhlanga, chief economist at Rand Merchant Bank, « elections in several countries, episodes of unrest and political uncertainty, as well as global fragmentation and reorientation have all had measurable macroeconomic effects. » Ivory Coast has nevertheless managed to stand out in this difficult context.
Ivorian economic dynamism rests on several pillars. Indeed, the country has maintained an average annual growth of 6.5% in recent years. In parallel, investments in infrastructure and local transformation of raw materials attract foreign capital.
Burkina Faso, Turkey, and China are among the main investors in the territory, according to the Investment Promotion Center. Bref, Abidjan is multiplying reforms to facilitate business and digitize administrative procedures.
Ghana, for its part, maintains its sixth position despite recent turbulence. The country went through a debt crisis that forced it to default on its obligations in 2022. Thus, inflation had exceeded 54% in December that year, forcing the Central Bank to raise its key rate to 30%.
The Cedi had then lost nearly 30% of its value against the dollar. A complete debt restructuring was undertaken with IMF support. Enfin, the country is expected to regain access to capital markets in 2026, upon completion of the adjustment program.
Thirteen African countries improved their position in the 2025 ranking. This dynamic demonstrates resilience in the face of global geopolitical shocks. Ivory Coast and Ghana embody this adaptive capacity in West Africa.
