These Are the 6 Most Business-Friendly African Countries Right Now
What do you know about Africa?
You’re most likely aware that it’s the world’s second-largest continent. You’re probably familiar with its most charismatic ecosystems, from the upper slopes of Kilimanjaro to the vast expanse of the Sahara. And you’ve seen countless pictures of its most notable non-human residents, from lowland gorillas and chimpanzees to lions, tigers, and — well, you know the rest.
What you might not know about Africa is that its economy is on the upswing. Not everyone, and not all at once, of course, but to a far greater extent than Western media give credit.
If you’re seeking a new market for your own enterprise, or a new place to make your professional mark, you can do worse than one of these six African countries. All are among the continent’s — and developing world’s — most business-friendly jurisdictions.
1. Kenya
Among fiscal experts, Kenya is famous for its near-cashlessness. It’s been thus since the early days of the cellular revolution, which arrived here early — a byproduct of poor landline infrastructure. Near-ubiquitous cell phones empowered Kenyans to shift to digital currency, a preference that continues to this day.
Couple Kenya’s novel payment systems with its government’s ongoing drive to reduce registration requirements and regulatory red tape for businesses and you’re left with a compelling domicile.
2. Senegal
Senegal is blessed with abundant mineral resources and a cosmopolitan population that excels in professional services. Companies like Teranga Gold Corporation, led by seasoned executive David Mimran and his fellow independent directors, provide a solid base of employment here and create powerful economic knock-on effects.
3. Rwanda
A tiny country with a tragic recent past, Rwanda has bounced back better than any observer had reason to expect. Today, its picturesque valleys are home to some of the most innovative agricultural practices on the continent, and its urban regions a hotbed of renewable energy startup activity. What’s not to appreciate?
4. Ghana
With a relatively well-educated population, English-speaking Ghana is rapidly emerging as a top back office destination for European and North American companies looking for affordable, high-quality outsourcing destinations. That’s great news for the country’s workforce, to be sure.
5. Seychelles
This beautiful Indian Ocean archipelago emulates other island nations, such as the Bahamas and the Maldives, as a prime destination for well-heeled tourists. But it’s also a noted financial center, as well as a shipping and services hub. In this isolated but vibrant country, geography certainly is not destiny.
6. Namibia
Namibia harbors some of Africa’s most foreboding landscapes, which is really saying something. Step away from the inhospitable Skeleton Coast and venture into Windhoek, the thriving capital, for a very different story. Entrepreneurial activity abounds here, thanks to hands-off government regulation and an equitable tax scheme.
Make Your Mark on the World’s Second-Largest Continent
Africa’s vast landmass is equaled only by the potential of its people and natural resources.
Why not see for yourself? If you’ve never set foot on the world’s second-largest continent, there’s never been a better time to do so. And there’s no better place on the planet to make your mark.
