Africa is 'the most attractive' region for investors
More than half of all institutional investors view Africa as the most attractive region to invest in the next decade.
A survey by the Economist Intelligence Unit (EIU) found that one in three expect to put at least 5 percent of their portfolios into the continent by 2016.
The 158 institutions asked included pension funds, private banks and hedge funds, with Nigeria and Kenya earmarked as the countries likely to be the best investment returns within the continent between now and 2015. Zimbabwe, Egypt and Ghana were next on the list.
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"Africa was exclusively seen as a commodity play but now there are real economic growth drivers," said Mohammed Al Hashemi, Chief Executive Officer of Abu Dhabi Invest AD Asset Management, which commissioned the report.
"Africa was a destination for grants and aid but going forward it will be the destination for trade and investment."
Almost half (46 percent) of the investors said that energy and natural resources offer the best investment return over the next three years. Agriculture and agribusiness, construction and real estate and financial services were listed next.
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