﻿10 Best Countries for doing Business in Africa(2021).
The continent of Africa is brimming with opportunity. It's rich in natural resources,
a workforce and enormous gaps and opportunities for those who want business success.
While challenges exist, in almost any industry there is also a tremendous potential for growth.
Africa is rich and diverse in natural resources. However, millions of highly
educated and skilled young people also have enormous untapped potential. Furthermore,
the recent World Bank report reveals that the continent is now becoming a growth hub.
Thanks to their governments and the people's hard work. Africa
has recently emerged as the most popular destination for emerging market investors.
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#10. Seychelles
Seychelles is a small island country in the Indian Ocean. Apart from the country's natural
attractiveness, foreign investment has increased dramatically. The majority of the funds come
from foreign investors who are enticed by a variety of benefits. The country's advanced
communication system is one of the reasons why foreign companies want to invest there.
The government has spent time and money laying optical fiber cables to connect the country to
other African countries for trade. Seychelles is also trying hard to grow its tourism industry.
It continues to attract millions of dollars in investment due to its beautiful beaches.
#9. Togo
Togo is a small West African country with a population of 7.9 million people. An online
construction permit platform is one of Togo's top enhancements, as it alleviates investor concerns
and saves developers time. The government is becoming increasingly cognizant of the importance
of aiding and rewarding the private sector in its job-creation efforts. According to a World Bank
news release, Togo is on the top improvers list for the second year in a row, thanks to measures
such as lower building permit fees and simpler property registration procedures. It has been
voted Africa's best performer in terms of ease of doing business for the second year in a row.
#8. Botswana Botswana is politically secure, and despite its
small population of slightly more than 2 million people, it is an excellent place to invest and
profit. Botswana's good economic success has been aided by diamond mining, prudent fiscal policies,
international financial and technical assistance, and a cautious foreign policy. Though diamonds and
other minerals account for a major component of the Botswana economy, the country also has
a sizable financial reserve and has expanded its manufacturing sector, diversifying the economy.
Other sectors will be able to flourish as the country's reliance on minerals decreases.
According to Transparency International, Botswana is the world's most corrupt country in Africa,
as well as having one of the freest economies. Poverty has diminished, and education has become
more widely available across the country. Botswana has one of Africa's most stable
and prosperous economies. Botswana will not be left behind as technology becomes a barometer of
international growth. Botswana's government-backed Innovation Hub aims to bring together start-ups,
major corporations, research and health institutes, and other organizations under
one enormous green roof to assist the country's technology grow. Botswana
has had and continues to have the highest average growth rate in the world, at over 9%,
since gaining independence from Britain in 1966. Botswana's GDP per capita has climbed from $70
to $14,000, putting it in the upper-middle income bracket with Chile and Argentina.
#7. Zambia Zambia, a country in southern Africa,
has had one of the fastest-growing economies in the last ten years. Lusaka, the country's capital,
is home to the country's most important commercial centers, as well as the majority of Zambia's urban
population. The privatization of its mining sector has attracted international investors in recent
years. It is the world's largest producer of copper-rich natural resources, and its agriculture
industry is growing. Despite the absence of diversification and excessive reliance on
copper trading, Zambia is ranked seventh on this list. People doing business in Zambia will find
a relatively stable political climate, as well as positive economic progress in recent years.
The World Bank's most recent reports praised the country's progress in a variety of areas,
including obtaining credit and paying taxes. Zambia improved loan access by enacting a new
Movable Property Act and establishing a new collateral registry. The new law established
a working framework for secure transactions. The collateral registry is operational, geographically
unified, searchable by the unique identifier of a debtor, modern, and notice-based. Zambia
also made it easier to pay taxes by introducing an online platform for filing and paying taxes.
The reduction of the property transfer tax rate also made taxes less expensive.
#6. South Africa
South Africa has a wealth of natural resources, as well as well-developed financial, legal,
communications, energy, and transportation industries, as well as Africa's largest and
one of the world's top 20 stock exchanges. Farming, mining, and manufacturing are the
primary drivers of the country's economy, but tourist potential should not be overlooked, as it
is equally thriving in South Africa. South Africa has the most liquid financial market in Africa,
with a population of 55.9 million people and a GDP of 354 billion US dollars.
Furthermore, many international investors see it as a place to start investment.
South Africa has also undertaken structural reforms, such as privatization of state-owned
firms. The country can easily retake first place if the authorities actively pursue the reform
agenda. It's also worth noting that South African colleges are mostly made up of Africa's best,
assuring that the country will continue to develop some of the world's most outstanding innovations.
South African invention includes Multichoice (DSTV), a global South African company, PayPal,
which was co-founded by a South African, CAT scan, Mark Shuttleworth's Linux Ubuntu, and SASOL
technology, which converts coal into oil #5. Tunisia
Tunisia is one of the most peaceful countries in North Africa, and it ranks as Africa's fifth
best country for business on our list. According to the global lender, Tunisia is placed 78th in
the world in terms of ease of doing business, and sixth in Africa. Despite a number of major
security concerns in recent years, the country's economy has been steadily growing since 2011.
Textiles and apparel, food, petroleum products, chemicals, and phosphates are some of the
country's most important exports, with the EU accounting for nearly 80% of total exports.
The young nation has an incredible literacy rate of 80%, and the average age is 18 to 25 years old.
This suggests that Tunisia has a big number of skilled young workers. In addition to increasing
security, the government has secured commercial stability. To gain the trust of investors,
the government reduced the tax to roughly 25-30% a few years ago. The majority of people in the
country speak Arabic. As a result, investors from the Middle East will have no problems. A sizable
segment of the population, including people from Europe and America, speaks French and English
fluently. It has well-developed infrastructure, educated residents, and a GDP of 46.99 billion
dollars, which is growing at a pace of 2.5 percent each year. Tunisia's liberal strategy,
in combination with investments in education and infrastructure, generated decades of 4-5 percent
annual GDP growth and improved living standards, according to the US Central Intelligence Agency.
#.4 Kenya
Kenya has one of the fastest growing economies in Africa, and the world's third fastest. The country
is located on Africa's eastern coast and serves as a transportation hub and gateway to the continent;
Nairobi, its capital, is the largest city between Cairo and Johannesburg.
It has a population of approximately 48.5 million people. According to 2015 estimates, Kenya's GDP
was $69.977 billion, ranking it 72nd in the world. The GDP per capita was estimated to be
$1,587.In 2020, Kenya was included in the list of the most economical
new business countries in Africa. The World Bank predicts at least 5% growth this year.
Not only does the country have a stable political system.but has favorable weather conditions.
Kenya's outstanding feature is its diversity and steady growth in customer demand. In addition,
increased urbanization, improved infrastructure, and methodical changes benefit the country.
Kenya enhanced its electrical reliability by investing in distribution lines and transformers,
as well as establishing a specialist squad to restore power when outages occur. Kenya
is unquestionably one of the most technologically advanced African countries. The country is seeing
a number of startup companies with revolutionary ideas, particularly in the IT industry, and all
else being equal, this is likely to continue with a lot of start-ups that may eventually establish
international platforms for further technology growth. Kenyan inventions include Anthony
Mutual's charging sneaker and a 44-year-old Nairobi resident's alarm-fitted television.
A solar-powered refrigerator that allows drugs such as immunizations and precious perishables
to reach remote sections of rural cities where there is no possibility of obtaining energy,
and Moses Gichanga's drone that can fly for up to two hours at a time. Agriculture,
forestry and fishing, mining and minerals, industrial manufacturing, energy, tourism, and
financial services are among the major industries driving the country's economy.With strong property
rights, a mature, diverse economy, and better infrastructure. We are confident that all of this
demonstrates why Kenya is one of the best African countries in which to invest or start a business.
#3. Morocco Morocco, known for its rich culture,
breathtaking scenery, and delectable cuisine, is also listed as one of the easiest African
countries to do business with this year. Morocco is a major player in African economic affairs,
and we are confident that it will continue to make progress and remain a top economic performer.
Meanwhile, agriculture, tourism, aerospace, automotive, phosphates, textiles, apparel, and
subcomponents continue to be the best performing industries and growth drivers in the country,
with increasing foreign investment in the aeronautic and automotive industries also playing
a role in economic expansion. The government has shifted its focus to improving the operating
environment. As a result, Morocco is on its way to becoming a financial center. Through this country,
European countries will have access to African markets in the future. In order to position
itself as a regional economic hub and broker, Morocco has increased its investment in port,
transportation, and industrial infrastructure. Morocco's competitiveness is increasing as a
result of industrial development strategies and infrastructure upgrades, the most prominent of
which is the establishment of a new port and free trade zone near Tangier. Morocco, likewise,
intends to grow its renewable energy capacity, with the goal of having renewables account for
more than half of the country's installed electricity generation capacity by 2030.
Rating 17th in Market Performance, 21st in Monetary Freedom, and 70th in the Global
Competitiveness Report of 2016-2017; Morocco is Africa's third best country for business 2021.
#2. Rwanda Rwanda,
a country in East Africa, is rich in natural resources such as minerals and agriculture,
making it a rural country with 90 percent of the population dependent on agriculture and minerals
for survival. Rwanda's main sources of foreign exchange include tourism, minerals, coffee,
and tea. Since the 1994 Rwandan Genocide, the country has recovered at an astonishing rate.
Rwanda ranks high among Africa's most peaceful countries and among the easiest African countries
to invest in in 2018, illustrating how the country has recovered from its previous difficulties.
This high business ranking is the result of numerous reforms that have made the country
more appealing to investors. The percentage of people living in poverty in the country declined
from 57 percent in 2005 to 45 percent in 2010, and the figure is still falling. Rwanda today sees
lowering the country's dependency on foreign aid as a strategy of achieving economic independence
through mobilizing domestic resources and boosting domestic savings. It also hopes to be Africa's
regional information technology powerhouse. In this regard, the country has started a planned
4G LTE broadband network, which will provide new opportunities for improved service delivery across
the country. At the same time, the country is experimenting with numerous sorts of technology,
and we may soon be able to witness mind-boggling results. So you don't have to be concerned.
#1. Mauritius
This island off the coast of East Africa is one of the countries that has set the
benchmark for ease of doing business. It will amaze you that the country has
successfully transitioned its economy from a low-income agricultural-based
economy to a diversified upper middle-income economy with expanding financial, industrial,
and tourism sectors, as well as sound economic regulations and prudent banking practices.
Political and social stability are the primary concerns of any worldwide investor.
So here's the deal: Mauritius is the 21st most peaceful country in the world,
with one of Africa's strongest democracies. Trade Freedom is ranked fourth, while Property Rights
is ranked thirty-fourth. In terms of acquiring building permits and other licenses, Mauritius
beats the majority of African countries. In Mauritius, starting a business takes only 6 days,
registering a property takes 14 days, and getting power takes 81 days. The country's efficient
and transparent regulatory system encourages relatively broad-based economic development,
with competitive tax rates and a moderately flexible labor law to enable private-sector
expansion. It is a beautiful island that attracts a large number of tourists in addition to serving
as a financial center. Foreigners are allowed to own and develop property on the island,
and if they invest $500,000 or even more, they are automatically eligible for permanent residency. To
be a successful African investor, you must conduct comprehensive research into which countries
produce what, what they lack, their economic policies and reforms, and political persuasion.
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