Which Is the Best Country in Africa for Business

Seychelles is the 100th country in the world when it comes to the ease of doing business. This beautiful island nation is located in the Indian Ocean. The tourism sector has received great attention from foreign investors who see the country`s tourism potential as well as the record number of tourists the country has every year. Talk to our global team of experts with years of experience working with high net worth and ultra-high net worth entrepreneurs who want to go where they are best treated. Africa is fertile ground for successful investors and companies, as opportunities abound in this part of the world. Africa as a continent has quickly become an emerging market for businesses. It is the fastest urbanizing region in the world and the second fastest growing region after emerging Asia. Mauritius is a politically and socially stable economy, ranked 21st among the most peaceful countries in the world. Its democracy is one of the strongest on the continent. In addition, tax laws are quite flexible for investors. The African country recently signed a trade agreement with China, making it a transportation and financial hub. East Africa`s giants rank at the top when it comes to access to credit and business creation, according to the World Bank. Kenya boasts of being a leader in innovation in information and financial technology and transport services in the Eastern Region.

If you`re warming up to investing in Africa, then the next question you ask yourself would be, “Where is the best place to do business in Africa?” The world`s largest exporter of cocoa beans has made significant progress in its business environment in recent years, building on the gains of a stable political environment. The country was among the top 10 improvers in the world in the ease of doing business ranking. Over the past two years, it has shortened the processing time for building permits and introduced a new electronic tax payment system and a credit bureau. Last year, it introduced online systems for filing corporate tax and VAT returns, according to the World Bank. Below is the list of the best countries where you can easily do business in Africa if you want a piece of the emerging markets pie. Be sure to read to the end, as there are notable mentions that didn`t make the list, but still fertile ground for business growth. The country had fallen six places in the World Bank`s “Doing Business Report 2018”, but was quick to publish some policy announcements in the weeks following its publication. These reforms moved it to eighth place in the 2019 edition of the report. The World Bank noted that the country implemented five business reforms in 2017, the highest number achieved in Egypt in a year in the past decade. Among the reforms, it is worth noting the reduction of the time to start a business from 16 days previously to 11 days; Strengthen corporate transparency to protect the rights of minority investors. One of the advantages of doing business in Africa is a high yield. Government pressure for infrastructure projects, coupled with a relatively stable political and economic sector, contributes to the region`s economic development.

Understanding each African market and its unique situation is crucial for entrepreneurial success today. In this blog, we will discuss some of the best African countries for people looking to start a new business, as well as the business benefits that Africa as a whole has to offer. Nigeria is a large nation with nearly 200 million people on the Gulf of Guinea south of the Sahara. Nigeria is Africa`s largest economy. And in recent decades, it has been the largest recipient of foreign direct investment. During this period, Nigeria streamlined the process of relocating a company to Nigeria and promoted foreign companies in various ways. The increase in global connectivity may have contributed to the fact that sites that were not connected from the outset were the most supported. This is undeniably the case of African metropolises that have adopted technology or finance as sectors of activity. The extremely low cost of living, surprisingly well-educated workforce, and incentives to relocate to many African countries make a number of cheap places on the continent the best places to start (or grow) a new business.

Here are ten countries where business is easy, according to World Bank ranking Côte d`Ivoire, the world`s largest exporter of cocoa beans, is among the 10 countries that improve the most in the ranking of the ease of doing business. The processing time for building permits has also improved over the past two years. A country whose economy is based on agriculture is expected to maintain a stable growth rate of 7% or more over the next year.