﻿Top 10 best countries for doing business in Africa.
The African continent crests a picture of wide extremes. There is Poverty and then
a rich culture, natural beauty, and abundant resources side by side. Although many aspects of
the continent are developing, years of progress have made many urban centers in Africa quite
different from what they were 20 years ago. Some African countries have very low cost of living,
a surprisingly well educated workforce, and incentives to relocate to many African nations.
This makes some of these countries opportune locations to start a new business or expand one.
Let look at the 10 best African countries for doing business in Africa.
Welcome viewers to an exciting video previewed by ThinkRich Media. If you are new please don’t
forget to subscribe and turn on post notifications so as not to miss out on any of
our new videos. 10. Egypt
With a GDP of $250.9 Billion, Egypt has long been a trade player throughout the
Mediterranean and Middle East. As a crossroads of sorts a variety of goods pass through Egypt
and its strategic importance in many businesses cannot be under looked.
With Egypt’s quick access to other countries and a well-educated work force,
Egypt is well positioned for businesses looking to gain access to African markets. Notable among
the reforms are reducing the time to start a business to 11 days now, from 16 days earlier;
and strengthening corporate transparency to protect the rights of minority investors.
9. Mauritius Mauritius is a beautiful
island nation located in the Indian Ocean with a GDP of $14.22 Billion. The nation is
also one of the most developed in Africa and aims to achieve high income status by 2025.
Mauritius is cited as one of the easiest nations to do business in in the world
because with a well-educated and multilingual workforce, transparent governance, and incentives
for a variety of sectors. Mauritius’ stable political system, liberal financial sector
and low taxes encourages business formation and have made it an ideal environment for
investors who prefer a business-friendly and less risky investment environment.
8. Ghana Ghana has a GDP of $65.56 Billion. In
recent years, Ghana has approached democratization with a vibrant multi-party political system.
It’s typically rated in the top 3 nations in Africa for freedom of speech and the press.
Growth has remained strong for much of the last decade and whereas the nation traditionally
relied on oil production for a large share of their GDP, this has diversified in recent years
creating numerous business opportunities and making it a great country to do business.
7. Rwanda Rwanda with a GDP of $9.509 Billion
is a relatively small nation with a complex and troubled political past.
In recent years they have emerged as a nation rapidly lowering poverty rates and with a GDP
that has grown more than 10% a year for several recent years. One of the largest motivations
provided by any nation on this list is present for Rwanda: no corporate income tax for companies who
relocate their headquarters to Rwanda. This incentive draws many businesses to Rwanda.
6. Ethiopia Ethiopia with a GDP of $84.36 Billion
is the second most populated country in Africa and the world’s most populous landlocked nation.
Made up of over 80 ethnic groups, the diversity of the nation is amazing. Driving forces in
business in recent years have included increased manufacturing for exports. With a government that
has pinpointed the lack of a strong private sector as a specific challenge it wants to address,
the business climate is good and scheduled industrial-site developments are occurring.
5. Kenya Kenya has emerged as one of the safer locations to
relocate in Africa, contrary to its reputation. A range of incentives for foreign investors as well
as the third highest university school enrollment rate of nations surveyed round out this business
destination. Within Nairobi a vibrant nightlife, culinary offerings, and populace known for
friendliness make the capital city a destination. 4.
South Africa South Africa has a
GDP of $368.3 Billion. Although the apartheid took a great toll on the country in the past,
South Africa has emerged as one of the strongest economies in Africa on several fronts in recent
years. English is spoken by around 10% of the population which helps to curb communication
barriers. South Africa has globally competitive firms in high tech fields including finance,
health care, and manufacturing. There is a great list of schemes and programs that help
both companies and investors in each stage of the process depending on the industry
and other variables that you can find here making it very easy for investors to better
understand the business they are investing in. Africa’s second largest economy is one of the
easiest places to do business on the continent with advanced legal and financial structures.
3. Morocco
Morocco has a GDP of $117.9 Billion and can boasts one of the most educated workforces in Africa,
in particular a strong workforce around clean energy, aeronautics,
and automotive tech. its roads, energy, and port infrastructures are some of the
best in Africa and have been greatly improved over the last two decades.
Many European nations gain access to African markets as well as raw goods through Morocco.
With all the resources found in this country it makes it a great place to do business.
2. Ivory Coast
Ivory Coast with a GDP of $43.01 billion is one of the most quickly expanding economies in the world
with 20% growth expected through 2021. Although expat safety is still a concern in the Ivory Coast
than other nations, many foreign entities have started up shop in this up and coming nation.
Having just one official language, French lowers the language barrier for much of the world.
This country is one of the top 10 improvers in the world in the Ease of Doing Business rankings
because they make their country more suitable for business. In order to facilitate business,
a program of dematerialization of services and administrative acts has been put in place;
tax relief measures were also introduced, a program of major transport infrastructure
projects, including the privatization of the Abidjan-Ouagadougou railway line
and the extension of the port of Abidjan. All this makes it a good place to start a business.
1. Nigeria Nigeria has a gross
domestic product of $397.3 billion. It has a population of about 200 million people and
found on the Gulf of Guinea south of the Saharan Desert. Nigeria has the largest economy in Africa
and is the largest recipient of direct foreign investment. Nigeria has learned the process of
moving a business to Nigeria and created ways to motivate foreign investors such as reducing
time for registration at the corporate affairs commission, introducing an online platform to
pay stamp duty, the government equally permits up to 100% foreign ownership in various sectors,
free transferability of capital and returns and double Taxation Treaties for countries such as
Belgium, Canada, China. Nigeria was among the forty-six economies in the world that improved
across three or more categories the World Bank considers in its analysis.
There are several factors that make a country suitable for business
though these countries may not meet up all the requirements but they are best of the lot.
Thanks for watching and feel free to leave a comment if you feel any city has been left out.
I hope you enjoyed the video and if you did please don’t forget to give this video a thumbs up,
subscribe and turn on your post notifications. Help our channel grow!