Updated: Oct 31, 2022
Africa presents an excellent opportunity for investors to exploit, and do business, and this is mainly due to the presence of lots of unexploited raw materials. Businesses in Africa can grow, achieve success if proper steps are taken, and investment is made in the right country.
Registering a business in some countries in Africa may be a bad idea due to poor leadership, war, internal conflicts, and other harmful factors. The following countries are the best in providing business opportunities, and you may choose any of them, and choose it to register a company;
1. Ivory Coast
Ivory Coast is the largest economy in Francophone Sub-Saharan Africa. It is a lead exporter of cocoa, coffee, palm oil, and rubber, making it an ideal home for an investor. The country is among the fastest-growing in Africa, and many investors are being lured into investing in Ivory Coast.
Another aspect that makes it the right investment destination is its investment in improving the spread of electricity, and road infrastructure. In Ivory Coast, you can register a business within only 24 hours.
Nigeria remains to be a giant in terms of growth and economy in West Africa's region. It is a country geared to improve the ease of doing business, and it is improving at a high rate. Registering a business in Nigeria is easy as the government decided to cut on the time required to register a company.
Nigeria is the most populous nation in Africa, and as an investor, you can be sure that there will be enough market for your goods/services.
Senegal is transforming the nature of doing business in Africa, and with every year that goes by, the country is becoming more business-friendly. In Senegal, many online platforms have been innovated, and you can use them to do the following;
Pay taxes more comfortably
Obtain a building permit
Another perk of investing in the country is that it is easy to access credit from lending institutions.
Togo is an ideal place for registering a business in West Africa, and it ranks very high in the World Bank's index list of ease of doing business. Togo engages in agriculture, and produces mainly cotton, cocoa, and coffee.
Togo is introducing incentives to encourage people to invest in the country, and if you are a prospective investor, you should take advantage of these incentives. Togo has excellent cross border trade, and it trades with many countries such as France, Netherlands, China, Benin, Burkina Faso, and many others.
Ghana is another country where you should consider registering a business, as it has improved and provides a suitable environment for doing business. Ghana has made importing easier by making sure that the customs clearance system can be done online.
Ghana has benefited a lot from oil, gold, and cocoa, and the country is also investing in non-oil, and non-agricultural sectors. It would be best if you considered registering a business in the country. Other qualities that make Ghana rank high in the ease of doing business are, availability of skilled labor, and a stable government.
Even though it is a small island country, it ranks highest in Africa in world bank’s index list of ease of registering a business. The success has been achieved by political stability, affordable taxes, and a liberal financial sector.
Mauritius was the first country to sign a full trade agreement (FTA) with China, and in addition to that, it has agreed to participate in formal trade with the three trading blocks in Africa (COMESA, SADC, EAC).
The government in Mauritius is still implementing many strategies to enhance business in the country. Due to the above reasons, Mauritius is on the list of the best countries to register a company in Africa, and you should consider registering a business in the country.
Mali is a country that has made tremendous strides to improve the ease of registering a business. Mali's leadership has been excellent, and Mali's changes are too many to mention in this article.
Mali's backbone is agriculture, and you can earn lots of profits if you specialize in this sector. Another incentive that makes investing in Mali be a choice for many investors is cheap labor availability.
If you want to invest in North Africa, it would be best to start with Morocco, and this is because it is a country with a friendly business environment. Morocco is also a center for tourism due to its culture, and tasty cuisines.
The country has made payment of taxes more straightforward, and in Morocco, registering a company is easy as the government has worked on simplifying the process.
Benin is another country that is growing economically at a fast rate, making it ideal for investment at the current moment. It would be wise to register a company in the country. The country is a trading nation, and it deals with agricultural products, which are cotton, peanuts, coffee, and palm oil.
In Benin, the government has made significant strides to improve the ease of doing business. It is also a member of West Africa's trading bloc known as Ecowas, and you should register a company there.
Tunisia is the last one on this list of the ten best countries in doing business. Tunisia has the right market size, and it offers a profitable business operating environment. Like any other country in this list, Tunisia offers incentives to encourage the coming of foreign investors.
Tunisia would be ranking higher on the list. Still, it has a taxation problem because after registering a business, you will have to pay about nine tax payments, which will be about 64% of your business's profit.
Certain factors rank the countries in terms of ease of doing business. These factors include ease of registering a business,
Ease of transfer of ownership,
Minority investors' protection.
The above countries have passed the test in the above areas, and if you want to register a company in Africa, it would be best if you chose one of these countries. If you need Assistance with Company Incorporation Service, Contact us today.