Business

Top Countries To Do Business In Africa 2022

Published

1 year ago

2022/12/12

For it to be said that doing business in a particular location is simple, a few conditions must be met. Before making significant decisions about where to conduct business, investors pay close attention to a number of indices, including:

Political and social stability
favourable statutory and regulatory framework
Workforce availability
Favourable market Presence
Trusted legal systems

Below is a list of African countries that meet the above conditions for the smooth running of businesses in Africa

1. Mauritius

It may shock some, but according to the 2020 World Bank Ease of Doing Business Rankings, this nation is the best in Africa for doing business and ranks 13th globally.

This nation meets most of the criteria that most investors will be looking for, including a strong social-political system, favourable tax laws, a stable economy, a peaceful nation, etc. It is undoubtedly among the best locations in Africa to consider for investors.

2. Rwanda

This nation is ranked the second-easiest place on the continent to do business in the 2020 World Bank Ease of Doing Business Rankings. Rwanda is currently ranked 38th in the world. Since 2000, Rwanda’s economy has expanded at an astonishing 6% yearly rate.

The nation’s government appears to have done away with all red tape related to starting a business and interacting with regulatory bodies. It has a robust economy and a calm business environment.

3. Morocco

According to the 2020 World Bank Ease of Doing Business Rankings, this nation is the third best in Africa for doing business. Morocco has powerful financial institutions and legal frameworks, making it one of the best places for financiers to conduct business in recent years.

4. Kenya

According to the World Bank, Kenya is the best country at starting businesses and obtaining credit. There are complex laws that make it simple to start businesses and raise the money needed to keep them operating.

The nation was ranked 56th overall and fourth in Africa in the 2020 World Bank Ease of Doing Business Rankings. Kenya’s economy has recently experienced tremendous growth of up to 6%. It is a significant center for tech businesses on the continent.

5. Tunisia

In the 2020 World Bank Ease of Doing Business Rankings, the nation is ranked 78th globally and 5th in Africa. Over 80% of the population is literate, making the nation proud (one of the highest in the world).

Aside from this, most people in the nation are between 18 and 25. This indicates a sizable educated workforce that can be used in this nation. Because of these ideal circumstances, it holds this position in Africa.