10 Best Countries To Do Business In Africa (2024 Latest Updated)

10 Best Countries To Do Business In Africa – Business is one of the profit-making mediums. In any business you want t invest your time and money, the sole aim is making a profit.

to this end people make several considerations when trying to set up a business. one of the major considerations is the environment or place of business. the place or location of a particular business matters a lot.

you can have a high-paying business skill but if in the wrong location, you might end up spending the capital without seeing any results rather you will be running a loss.

It’s just like going into an interior village that barely knows anything about development to erect an ICT center with high school fees. yes the facility may have a handful of resources to train students and yes it might have a world-class training system but that location knows nothing more than farming, they barely survive, how will they afford your class of service?

This is a typical example of setting up a good and resourceful business in the wrong location

So, in this article, I will be talking about the major counties in Africa in which a businessman boldly invests without having to regret

as we are discussing in this article, will tell you the major countries that have business working schemes. it is in your place to get to a country and discovers what it is good at before making any business idea

If are you a businessman, foreigner, indigene, or an intending capitalist searching to know the best countries in Africa to do your business, then this article is for you.

10 Best Countries To Do Business In Africa

The Countries include;

South Africa

This was formerly known as the best and first when talking about business. But over time we have other countries ranking the list when talking about business.

South Africa’s economy is ranked the second largest economy in the whole of Africa. Currently, it takes the 6th position in Africa and in the World 84th position.

One of the reasons for its ranking is the kind of fast industrialization techniques used. it is known as one o the most industrialized country in Africa.

For a business to operate smoothly it must have a good socio-political structure, favorable laws, conditional governmental policies, good financial and legal structure, etc. This is why we have major industries and companies locate their headquarters there. eg MTN, Siprite, MUltichioce etc.

Kenya

Receiving a recommendation and top ranking from the world bank for giving business loans and helping businesses grow.

Kenya has flexible laws which allow most businesses to start up with their finances and then they enable the business so it can grow. they indirectly manage the finances of the business.

With a literacy rate of about 81.54%, Kenya generates money from export and has a major name for doing business with ease.

It is ranked fourth in Africa and 56th in the world. it is also known t be the home of most ICT companies in Africa including Fintech.

Cote d’Ivoire

Tagged the most improved by the ease of doing business report. it introduced a system for electronic tax with the credit bureau.

Cote d’Ivoire is a major and largest dealer of cocoa beans export and it is still ranked the 10th in see of doing business. it is a french speaking country.

The country has a stable political setting and still hopes to expand and grow in the incoming years.

Over time it has developed a road network and a port for import and export which is currently known to be the second-largest West Africa.

It also has a favorable business setting for investments.

Rwanda

Ranked the 38th in the ease of doing business report. Also, Rwanda is among the two African countries that have ranked in the Ease business report.

In 2020, Rwanda was ranked second in the continent as the best place for business operations.

It has a very peaceful atmosphere for business. And also has a very smooth business running regulatory and legal policies that supports business.

Although the genocide experienced took a very big toll on the country, It decide to throw that behind and move up with much industrialization and brilliant investment.

Morocco

This is a north African country that has its bothers around the Atlantic Ocean and the Mediterranean sea. It is ranked 3rd in Africa among the 53 countries in the global ranking. Its major interest is with foreign investors.

It has serious concerns about developing its agricultural sector with Artificial intelligence. in the ease of business rankings, it is the 53rd country. it is said to be Europe’s pathway to Africa.

It is expected to grow by about 3.1% in the next few years because of its high tourism rate and its manufacturing skills which have raised it economic standard

Tunisia

This country is ranked 78th position in the ease of business ranking. it has a high percentage of literacy rate about 80 percent.

The country is known to have one of the largest populations of young people which makes the country a center of development and productivity. It also has a high literacy workforce that can be utilized by any business that starts in the country.

The country’s major language is an Arabic country, it all speaks french and English language.

Egypt

this country is known to be one of the most wealthy countries in Africa. with a vast population of about 97 million, it also has a stable and mixed economy. i ti because of this the economic growth rates from 3% to about 5% annually.

It put n place taxation, business policies, Structural reforms, privatization, business legislations, and fiscal policies since the year 2000. it has an increase in foreign investment almost daily and it also has a market-oriented economy.

it took the first position in south Africa in 2018 as a leading financial service provider. it carries out business reforms with flexibility when necessary. it is among the best country to start a business in Africa

Mauritius

Although this country is almost ignored because of its small market size when compared to the continent. but it is being above most of the countries with the biggest or largest market size.

Currently, it is ranked 20th in the world banks’ ease of doing business recorded, because it has a stable political system, a suitable and liberal financial degree, low taxes, and a business-friendly and safe environment.

It has business deals of formal trade with three African countries’ trade bloc which includes a common market for eastern and southern Africa, 2. the southern and east African communities respectively.

It has also signed a trade agreement with china.

Zambia

Ranked the 84th in the world bank report because of to stable political environment for business transactions. this country is the largest producer of copper. it exports copper to other countries.

It also has a thriving agricultural sector. it government has gone as far as privatizing most sectors in order to be able to accept most foreign investments and investors.

It is holding the 7th position when ranked in Africa. and in recent times it has boosted its financial sectors like the payment of taxes and getting credits.

Togo

with recent business reform sits has gone from the 137th world ranking to 97th. it has a population of about 8 million people both young and old.

Also, it is a French speaking country. has an online interface where businessmen and developers can obtain permits for the construction of business buildings which saves them more time than the physical process.

Conclusion

the countries listed and explained above are the major 10 countries businessmen should think about when considering starting a business in Africa.

Apart from their ranking one has to get to know what each country is really into and the kind of business that will attract more sales in the country so you will not end up erecting a laudable business in an environment it is not appreciated.