Africa has the reputation of a continent with fertile soils and vast natural resources.
Beyond rich resources, Africa is also home to some of the top-ranked countries according to
the World Bank's ease of doing business index. Mauritius, for example, has a rating of 81.5
and is ranked 13 on the global rankings. The continent's numerous untapped opportunities
have made it attractive to investors, entrepreneurs, and expatriates worldwide.
Since 2010, the continent has witnessed enormous innovation, particularly within the digital
technology space. Its huge number of highly educated, and skilled population has made it an
epicenter for transformative growth. According to the World Economic Forum, Africa is home to
50% of the world's fastest-growing economies The economy of Africa consists of the trade,
industry, agriculture, and human resources of the continent. Africa is a resource-rich continent.
Recent growth has been due to growth in sales in commodities, services, and manufacturing. West
Africa, East Africa, Central Africa, and Southern Africa in particular, are expected to reach a
combined GDP of 29 trillion dollars by 2050. In March 2013, Africa was identified as the
world's poorest inhabited continent; however, the World Bank expects that most African
countries will reach "middle income" status. This means that each person in Africa will
be making at least 1000 dollars a year by the year 2025 if the current growth rate continues.
Below is the list of THE BEST COUNTRIES WITH EASE OF DOING
BUSINESS IN AFRICA. They are however not arranged in any particular order.
10. Mauritius Mauritius may
not come to mind when talking about the best African countries to do business with. However,
this country has set the pace for other African countries. Placed 13th in the latest World Bank
ease of doing business rankings, this small nation has solved most issues any investor would face.
Mauritius is a politically and socially stable economy that ranked 21st among the most peaceful
countries in the world. Its democracy is one of the strongest on the continent. Plus,
its tax laws are pretty relaxed for investors. The economy of Mauritius is a mixed developing economy
based on agriculture, exports, financial services, and tourism. Since the 1980s, the government of
Mauritius has sought to diversify the country's economy beyond its dependence on just agriculture,
particularly sugar production. 9. Rwanda
Since 2000, Rwanda's economy has grown at an average of 6% year over year. With a 76.5 rating,
the Sub-Saharan African country ranks 38th on the World Bank's ease of doing business rankings.
Rwanda is ranked number two in the world for ease of property registration,
second only to New Zealand. In recent years, the East-African
nation has implemented the most business reforms in Africa. The economy of Rwanda has undergone
rapid industrialisation due to a successful governmental policy. Since the early-2000s,
Rwanda has witnessed an economic boom, which improved the living standards of many Rwandans.
8. Zambia Zambia is 85th on the World Bank
index and is a relatively politically stable environment for business. In the past years,
the Zambian government has privatized some of the nation's public corporations to attract foreign
investors—one of such privatization efforts is in the mining sector. The country remains the largest
producer of copper. Its agricultural sector has also been a thriving sector in recent years.
Through the first decade of the 21st century,
the economy of Zambia was one of the fastest-growing economies in Africa,
and its capital, Lusaka the fastest growing city in the Southern African Development Community
7. Kenya According to the World Bank, Kenya
is one of the world's top performers in Starting a Business and Getting Credit. The country, ranked
56th globally, has collaborated with American giant IBM to build technological solutions
that can help its various agencies solve diverse business issues, including property registration.
Kenya's economy has witnessed enormous growth between 5 and 6% in recent years. The Economy of
Kenya is a market-based economy with a few state enterprises. Major industries include agriculture,
forestry, fishing, mining, manufacturing, energy, tourism and financial services. As of 2020,
Kenya had the third-largest economy in Sub-Saharan Africa, coming behind Nigeria and South Africa
6. Tunisia Presently the 78th country on the ease
of doing business ranking, Tunisia boasts an 80% literacy rate, one of the highest in the world.
The North African nation also has one of the youngest populations globally,
with the average Tunisian in the 18-25 age bracket. Tunisia is predominantly an
Arabic-speaking country. Nonetheless, many of the people also speak French and English fluently.
The economy of Tunisia is in the process of being liberalized after decades of heavy
state direction and participation in the country's economy. Prudent economic and fiscal planning has
resulted in moderate but sustained growth for over a decade. Tunisia's economic growth historically
has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism.
5. Seychelles
Seychelles is the 100th country in the world when it comes to the ease of doing business.
Its tourism sector has received major attention from foreign investors who see the tourism
potentials of the country as well as the record number of tourists the country commands each year.
Seychelles also offers incentives for foreign investors. In doing so, it has seen enormous
investments in its telecommunications sector, which has been dubbed one of the most advanced
in Africa. The economy of Seychelles is based on fishing, tourism, processing of coconuts
and vanilla, coir (coconut fiber) rope, boat building, printing, furniture, and beverages.
4. South Africa South Africa's 60 million population remains
one of the most productive on the continent. The country has the second-largest economy in Africa,
after Nigeria, and is also unarguably the most industrialized nation in sub-Saharan Africa.
Ranked 84th on the ease of doing business. The economy of South Africa is the second-largest
in Africa and the most industrialized, technologically advanced, and diversified in
Africa overall. Following 1996, at the end of over twelve years of international sanctions,
South Africa's Gross Domestic Product (nominal) almost tripled to its current
peak at US$416 billion in 2011. It has since declined to roughly US$317 billion in 2021
3. Côte d'Ivoire Ivory Coast ranks 110th place on the ease of
doing business rankings. The French-speaking West African country is the world's largest exporter
of cocoa beans. It has built on the back of a stable political environment in recent years,
and the country is expected to grow at an average of 7% in the coming years. The
Ivory Coast's economy is largely market-based and depends heavily on the agricultural sector.
Almost 70% of the Ivorian people are engaged in some form of agricultural activity.
2. Togo With about 8 million people,
the small French-speaking West African country is ranked 97th overall on the index.
The country has moved from its previous position of 137th thanks to its many business reforms.
While industry and services play a role, the economy is dependent on subsistence agriculture,
with industrialization and regional banking suffering major setbacks.
In January 2017, the IMF signed an Extended Credit Facility arrangement,
consisting of a three-year $238 million loan package. Progress depends on follow through on
privatization, increased transparency in government financial operations,
progress toward legislative elections, and continued support from foreign donors
1. Morocco In less than ten years, the
North African country has gone from 114th to 53rd on the ease of doing business rankings. Morocco
has become Europe's pathway to Africa, also becoming a leading financial hub in the process.
The country expects to grow 3.1% on average in the next few years as its tourism and
manufacturing sectors have been selected to drive economic growth. Since 1993,
Morocco has followed a policy of privatization of certain economic sectors which used to be in the
hands of the government. Morocco has become a major player in African economic affairs.
The World Economic Forum placed Morocco as the 1st most competitive economy in North Africa
Not to forget, Countries as Nigeria, Ethiopia, Ghana, and Egypt are also excellent countries
to do business with. Nigeria is the continent's most populated and leading economy. Egypt is the
leading international commerce hub in Africa. Thanks for staying with us. We hope you enjoyed
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