(AGI) Addis Ababa, Aug. 19 - Ethiopia, Nigeria, Morocco, Ghana and Senegal comprise the Top 5 international investment targets for the 2016-2020 period, according to the latest survey conducted by the French Havas Horizons together with the Institut Choiseul think tank. The survey also reveals that despite stunting economic growth and the drop in the price of raw materials, especially oil, investor confidence remains high: 75 percent of the 55 investors interviewed said they were optimistic about 2016 and 91 percent of them are confident about the 2016-2020 period. The factors most appreciated among investors are the improving business climate, the creation of free trade zones, the development of international trade relations, the rise of the middle classes and the growing population. Ethiopia, the continent's second most populated Country with its 90 million inhabitants, ranks as the first priority Country with 52 percent of the preferences, thanks to the investment and industrial development policies passed by the Addis Ababa government. Ethiopia's 8 percent average growth rate over the last 10 years is among the highest in Africa. Nigeria, Africa's second-largest economy and most populous Country, continues to attract investments despite its war against the Boko Haram radical Islamist group. The last of the Top 5 ranking is Senegal, with 19 percent of the preferences, hauled by the development of the financial and ICT sectors and by its diversified economy. The survey interviewed a total of 55 investors, including Bank of America, BNP Parisbas, Edmond de Rothschild, Proparco, Qatar national Bank, Rothschild & Cie, Standard Bank, Goldman Sachs, HSBC, Merril Lynch, and Attijariwafa Bank. (AGI) . .