Africa’s economy is growing at a very rapid rate as African leaders have began to take bold steps to build essential infrastructure and put other incentives for investors in place, increased education of Africans is also playing a pivotal role in Africa’s economic transformation.
Business men are constantly looking for better ways to make money and the African market is a gold mine waiting to be fully explored. The top Countries for doing business in Africa in 2016 are:
This list is based on the ease and costs of: starting a business, getting permits and licenses, electricity, getting loans, security of lives, property and investments and market size.
Mauritius is the best country in Africa in many aspects such as peace and safety. Globally Mauritius is ranked the 32nd best country to do business in which is an excellent position. In the recent years, the government of Mauritius has made several positive reforms which has enticed foreign investors to the country.
The ease of getting building permits and other licenses in Mauritius beats most African countries. It takes just 6 days to start a business, 14 days to register property and 81 days to be connected to electricity in Mauritius. The country also has competitive regulations and taxation systems in place which makes it have low barriers to entry and a good place to do business. Businesses which are thriving in Mauritius include:
Rwanda ranks highly among the most peaceful countries in Africa and among the easiest African countries to do invest in 2016. This high business ranking is due to the fact that some important reforms have been made which has made it more attractive to investors. Rwanda is ranked at 62nd position in the world for ease of doing business. Businesses which are thriving in Rwanda include Plantain farming, Coffee farming and export.
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Botswana is quite stable politically and it is a good place to invest and get very good returns on investment. It is also among the world’s least corrupt countries which is incredible considering the fact that most African countries have very corrupt leaders. The country is ranked 72nd globally for best countries to do business in worldwide.
There is relatively constant electricity supply which is paramount for any business to thrive. All these make it a very nice place to do business. Businesses which are thriving in Botswana include
- South Africa
South Africa is Africa’s largest economy with a GDP of 354 billion US dollars with a population of about 50 million people. It has well-developed infrastructures with efficient financial, legal, energy, telecommunication and transport systems. All these make South Africa a very good country to do business in. Businesses which are thriving in South Africa include
Tunisia is one of the most peaceful North African countries. It has good infrastructure, well educated citizens and a Gross Domestic Product of 46.99 Billion US dollars growing at a rate of 2.5%. Businesses which are thriving in Tunisia include
You can also buy/import goods from Africa and sell in other countries.
Have you transacted business or invested in any African country before? Please share your experience with us.