The number of Fortune 500 companies in the Middle East and Africa (MEA) region increased by almost 20% in 2016 compared to the previous year.
A report conducted by global research company Infomineo shows that South African city Johannesburg, together with Dubai, are the most attractive hubs. Casablanca in Morocco, however, has the highest growth rate overall and Kenya’s Nairobi is the leading destination for fast-moving consumer goods in East Africa.
Additionally, there has been an increase in the number of companies from outside the region covering MEA, with 38 businesses establishing regional headquarters in areas such as Brussels, London and Paris last year, compared to 22 the year before.
According to an Africa Business Communities report, industry type plays an important role in the selection of city and country. Technology companies are more likely to cover Casablanca or Lagos, while the latter city is also the premier location for organisations looking to manage their operations across West Africa, with 12 Fortune 500 companies already set up in the city.
