The South African Bank Rand Merchant has released its sixth edition report on "Where to Invest in Africa," finding Morocco ranked third out of all African nations.

In the top three with Morocco are Egypt and Botswana. Nigeria is ranked at 13th, due to the recessionary issue that the country is in.

Ethiopia is ranked in the fourth place, after Morocco, thanks to speedy economic growth, leaving Ghana in the fifth position. Tunisia is ranked at nine and Cote d'Ivoire is now in 10th place. 

The report said many African countries have failed to heed the signs of their declining economies, which could put the continent in danger if changes are not made.