Nigeria, Kenya and Angola have been ranked the world’s leading investment center for multinationals of American and European origin as revealed by The Frontier Markets Sentiment Index.
The index tracks the interest of multinationals in various countries in the frontier markets. 200 countries were sampled in the course of the research effort.
Nigeria emerged on top of the list and is followed by Argentina, Vietnam, Saudi Arabia, Kenya and Angola. Top African countries on the list include Nigeria (1), Kenya (5), Angola (6), Ghana (10), Ethiopia
Impressively 12 Sub-Saharan African countries made it to the top 20 most sought after investment destinations for multinationals.
The FM Sentiment index gainers and losers list was topped by Pakistan but is closely followed by four African countries in succession, Kenya, Nigeria, Ethiopia and Tanzania.
The research provides two key insights: the current state of sentiment toward countries in the frontier markets, and the change in sentiment over time. Corporate sentiment is calculated as the percentage of companies that include a particular country on their watch-list. If 50 of the 200 companies are keeping an eye on a particular country, the sentiment index score would be 25%.
The Frontier Markets Sentiment Index, created exclusively for the Wall Street Journal by Washington DC-based advisory firm Frontier Strategy Group