In deciding where to bring your business, the African continent has limitless countries good for doing business.
Most African countries have a higher ranking in terms of the ease of doing business rank index.
Read more to know the 20 best African countries good for doing business.
1. Mauritius
According to the World Bank, Mauritius is one of the countries to establish a lucrative business in Africa, ranking 13 in the ease of doing business.
Lucrative businesses in Mauritius
Anyone that is considering Mauritius for business should plan to venture into the following sectors that are quite lucrative:
-Agro-business, including aquaculture and seafood processing
-Manufacturing
-Information technology, IT
-Hospitality and property development
-Healthcare and medical travel
-Distribution and logistics services
-Renewable energies and the environment
-Financial services, such as auditing, accounting, and consultation
Reason to do business in Mauritius
One interesting thing is that the process of paying tax and setting up a business in Mauritius is encouraging because personal and corporate tax is at a low percentage, 15%.
The flourishing investment in this country results from its dexterous employees, flexible legislation, convenient tax policies, quality infrastructure, and political stability.
2. Rwanda
Rwanda is another African country enjoying sturdy economic growth rates, making it a place for business opportunities.
The ease of doing business rank in Rwanda is 38, according to World Bank. But it is the second notable place in Africa for business.
Most lucrative business opportunities in Rwanda
Many income-generating businesses are going on in Rwanda. However, the ones that thrive very well include but are not limited to the following:
-Restaurant Business
-Laundry services
-Bars and Night Clubs
-Community office space
-Food processing
-E-Services and online tutorial
-Food Delivery business
-Photography and videography
-Automobil business such as car dealership and machinery spare parts
Reason to consider the country for business
Doing business in Rwanda is very easy because of its market accessibility, business-friendly environment, geographic centrality, effective public enterprise, active consumer base, and passionate development agenda.
On the other hand, Rwanda’s foreign exchange-generating businesses like tourism and mining create new opportunities for better economic development.
3. Morocco
Morocco, a top financial country in North Africa, has proved its ambitiousness by moving from 114th to 53rd world rank for business opportunities in less than ten years.
Thriving businesses in the country
The country is one of the most prominent African economies by GDP, and information communication technology [ICT] is one of the flourishing businesses in Morocco.
Others include;
-Farming, like rice farming, snail rearing, poultry farming
-Roadside fast food
-Internet business like website designing
-SecondhandSecondhand product supply
-Palm oil retailing
-Office supply
-Tutoring
Reasons why Morroco is good for business
Controlled inflation, business relationships, solid infrastructure, active labor force, and multilingual ability constitute a significant plus for foreign and local investors.
3. Kenya
Kenya is an African country with a performative capability in starting a business and getting credit.
The country does so well in the real estate sector, which has been a coveted investment over the years.
Best business
Kenya has wide-ranging business opportunities that gave it the category of East Africa’s economic, logistics, and commercial hub as a market-based economy.
Some of the business ideas for investors in Kenya are:
-Butchery
-Travel agency
-Cybercafe business
-Selling snacks
-Garbage collection
-Boda Boda (motorcycle)
-Cake making and bakery
-Mobile money transfer
-Cleaning services, including dry cleaning business
-Car wash
-Wines and spirit business
-Salon/barbershop
-Event planning and photography
-Agriculture -poultry farming, aquaculture business
-Selling secondhand clothes (Mitumba), making beaded sandals and handbags.
Fast-growing business
The fastest-growing business sector in Kenya is construction and real estate, with 7.4% in 2017.
The increase is mainly in the government’s investment, real estate sector, and other businesses like energy, road, and airport modernization.
Reason to consider Kenya for business
Some of the reasons one should consider Kenya for business include: its strategic location, regional financial center, and comprehensive air routes.
4. Tunisia
Tunisia sits pretty as 74th on the ease of doing business ranking, and it’s one of the countries with the highest literate rate.
Tunisia, a North African nation with the youngest population, has energetic workers whose vigor and resources propel productivity.
The country continues to serve as a fascinating host country for national and foreign investors, and also, the liability of Tunisia gives easy access to international capital markets.
Growing business
The highest growing and lucrative business in Tunisia is oil and gas.
The diesel supply business adds so much to the country’s economic output and remains a source of revenue.
Other business opportunities in Tunisia
-Hotel
-Agriculture
-Cyber Cafe
-Restaurant Business
-Barbing Salon
-Transportation Business
-GSM Recharge Card Business
-Football Viewing Center
-Grocery Provision Store
Reasons to invest in Tunisia.
Ease of doing business is assured in Tunisia due to its large young workforce, proper security situation, tax incentives, fluency in the English language, and extensive import & export industry.
According to the World Bank rank, the country is in number 74.
5. South Africa
South Africa is one of the countries with a large economy in Africa and most industrialized in the sub-Saharan.
The improved legal and financial structures have turned the country into a hub for foreign organizations in Africa.
Why South Africa is good for doing business
South Africa’s ultimate financial sector, developed infrastructure, business support activity, growing middle-class, and their gateway to sub-Saharan Africa are advantageous to investors.
Business Opportunities in SA
The growing sector in South Africa is currently communication and information technology [ICT], such as niche website/information portal designing, web design, and development.
The South African nation serves as a hub and supplier of information and communication technology to neighboring countries.
Businesses that thrive very well in South Africa
-Day Care Center
-Mobile Restaurant
-Laundry Services
-Budget Clothing Shop
-Travel & Adventure
-Business Setup Adviser
-Financial Adviser
-Selling Online
-Foreign Cuisine Restaurant
-Tech/Gadgets Shop
-Energy Sector and environment, including waste management
The ease of doing business rank is 84th.
6. Zambia
Zambia, the largest producer of copper to some extent, has a politically consistent environment for business.
It’s a country with abundant natural resources and a GDP per capita of $1,305.00 as of 2019.
Reasons why Zambia is good for business
Zambia boasts of peace and a relatively fixed political system, investor-friendly economy, positive environment, and security which are all favorable for business.
Business opportunity in Zambia
The agricultural sector or agribusiness provides an opportunity for impact, influence, and development.
It’s a sector that employs about 67% of the national workforce and spawns up to 21% of its GDP.
On the world bank index, Zambia is 85 among 190 economies.
7. Togo
Though Togo is one of the smallest French-speaking West African countries, it has many business reforms as bragging right.
The country with less than 8 million people is ranked 97 and is one of the largest producers of phosphate in the world.
Implementation of the county’s reform made it comfortable to start up business, re-establish, and access credit and electricity.
Lucrative businesses that thrive very well in Togo
The growing and profitable business in Togo is the production of agricultural products. Such agricultural products include rice, livestock, cotton, coffee, sorghum, pearl millet, etc.
The Ease of doing business survey ranks Togo number 97.
8. Seychelles
Seychelles, an attractive island nation, has its location in the Indian Ocean and a spot in the ease of doing business rank.
The nation’s tourism sector has lured the attention of international investors who see the tourism ability.
Seychelles have the most incredible gross domestic product per capita in Africa, and it relies on fisheries and tourism.
Reason to consider Seychelles for business
Opening or building a business in Seychelles is easy because the country has a territorial tax system, has independent jurisdiction, premium banking facilities, economic stability, and flexible entity structure.
Business opportunities in Seychelles
One of the businesses in Seychelles that is worth the time is the concierge business and means specializing in assistance services like lifestyle management.
It also involves providing information, assisting guests in organizing activities, and helping in household management, vacation planning.
According to the ranking for the ease of doing, Seychelles ranks the 100th country.
9. Cote d’Ivoire
Cote d’Ivoire, also called Ivory Coast in English, is a French-speaking West African country and the largest exporter of cocoa beans.
The country is solely dependent on agriculture in which is the leading cocoa producer having 10% in each chocolate bar sold worldwide.
Cote d’Ivoire, with a traditional economic system, enjoys strong, vibrant, and stable economic growth.
Why doing business in Cote d’Ivoire is good.
The voluntariness of the government to enhance the business climate, low-interest rates, and encouraging tax policies sustains business in Cote d’Ivoire.
Business in Cote d’Ivoire
Cote d’Ivoire is another country that deals more in the agricultural sector.
They are well known for growing cocoa, sugar cane, oil palm, coconut, cotton, cashew, coffee, millet, etc.
For the ease of doing business, the World Bank ranks the Cote d’Ivoire 110th out of 190 economies.
11. Namibia
Doing business in an African country like Namibia does not require much protocol rather a few requirements that include branch registration, tax registration, etc.
Flourishing businesses
The most growing business in Namibia is tourism, and the tourism industry is a significant contributor to the nation’s economy.
The industry provides about 14.5% of Namibia’s total GDP.
12. Botswana
Botswana is a world-class center for cross-border businesses in Africa with a high literacy level and unmatched workforce.
Successful businesses one can do in Botswana
The increasing business in Botswana is the tourism industry, and it contributes almost 12% to the GDP.
13. Malawi
Malawi is a top-ranking country on the World Bank doing a business survey, and the business climate is encouraging to everyone.
Growing business opportunities
The fast-growing business in Malawi is their tea sector, which serves as the country’s primary occupation.
Reasons why Malawi is suitable for investors
It is comfortable doing business in Malawi because of its educated workforce, excellent physical environment, strategic location, and attractive investment incentives.
14. Egypt
The environment and economy in Egypt are most suitable for business, ranging from its little sales tax to free trade agreement all supports business.
Business oppotunities in Egypt
The primary business opportunity in Egypt is travel and tour, a known profitable business in Egypt.
Egypt is among the countries in Africa that generate income massively from tours and travels, which on the other hand, increase their GDP.
15. Senegal
Senegal is a renowned country with good infrastructure, a workforce, and good conditions for international companies.
Why Senegal is good for doing business
The political stability in Senegal is a primary reason for the attraction of international investors and business growth.
Increasing businesses
The highest growing business in Senegal is the agriculture sector, and currently, over 60% of its population works in agriculture.
16. Nigeria
Nigeria is one of the world’s notable investment countries in Africa and ranks 131 in the World Bank survey for the ease of doing business.
Growing business
The fast-growing business in Nigeria is the fishery sector, and the country ranks number three as the largest producer of fish in Africa.
The most farmed species in Nigeria is catfish, and it gives a contribution of 3.24% to the nation’s GDP.
Reason to do business in Nigeria
Doing business in Nigeria is stress-free as it has a higher commitment to improving the business environment, growing population and is strategically located.
17. Ethiopia
In Africa, Ethiopia is the second-most populous with a fast-growing economy.
Growing businesses
The business sector thriving in Ethiopia is the transport sector, and the country has stable, reliable transport infrastructure and different transport systems.
Reason to do business in Ethiopia
Cheap labor, social stability, good climate, competitive incentive package, and growing economy are advantageous to investors in Ethiopia.
18. Tanzania
Tanzania, as one of the increasing economies in Africa, has active opportunities for doing business. Though it’s a growing country, it ranks 141 in the World Bank index.
Growing businesses
The growing business in Tanzania is the aviation industry, and the country has four international airports and five airline companies.
Reasons why Tanzania is good for business
Doing business in Tanzania is very easy as it has an excellent geographical location, thus having six land lock countries using Tanzania’s port as their entry and exit.
The country’s capable security, arable land, and tourist attractions are good reasons to invest in Tanzania.
19. Mali
Mali is a small African landlocked country with a small domestic market that is thriving.
Growing business
Mali’s growing business and potential wealth rest in mining and agriculture production live livestock, cotton, and cereals.
Why is Mali good for doing business?
It is good to do business in Mali as it has over 350 million consumers, an economic environment, appropriate reforms, rich culture, and a trained workforce.
20. Gambia
In actuality, Gambia is a West African country with a wide range of successful entrepreneurs.
The technology industry in the Gambia has continued to increase and grow at a slow pace.
The Gambia is an improved African country that has undoubtedly registered successful entrepreneurs.
Is Gambia good for business?
Yes, Gambia is an African country good for doing business with many records of thriving entrepreneurship ventures. It has a historical business reliance on traditional subsistence agriculture, import, and export, etc.
Growing sector
The fast-growing sector in the Gambia is the entertainment sector, and the Gambians are doing well in this sector.
The entertainment sector is quite vast, but Gambia’s category is music videos and film shooting.
Best businesses to start in Gambia
-Estate agents
-Resume (C.V) Service
-Interior Design
-Affiliate Marketing
-Tax-Preparer
-Weekend Lecturer
-Website Setting and Content Management
-Bookkeeping and accountancy service for small businesses
Conclusion
Investors and businesses usually base their business operations in their home countries for reasons best known to them.
Africa has numerous countries one can start a business, and these countries mentioned above have favorable conditions and reasons suitable to any investors looking forward to starting a lucrative business.
