A survey of over 500 international business leaders in 38 countries showed a 73% improvement in Africa's attractiveness three years from now.
Senior tax policy adviser at Ernst & Young and former director at the Organisation for Economic Co-operation and Development‚ Jeffrey Owens‚ said the stellar performance could be maintained and the rewards of development could be reaped‚ but this would entail improved transparency‚ a respect for the rule of law and more investment in infrastructure and education.
"Many countries in Africa find developing a policy dialogue with business a strange concept‚" he said.
"There is tremendous interest in investing in Africa and what is important is large companies are also investing in research and development‚ which will be a continuing trend here‚" said Ernst & Young Africa's tax leader‚ James Deiotte.
But tax adviser from Nigeria‚ Ifueko Okauru said a challenge now was to get people to "pay the right taxes".
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