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Top Ten Countries in Africa

Blog: Singularity Blog

Doing Business in Africa -Top 10 Countries

Ever thought about setting up, moving to or working for a company in Africa? Then this will make interesting reading for you.

Where would you consider the best country to set up and operate a business in Africa?

The IFC ( International Finance Corporation ) in conjunction with the World Bank have released a report showing the worlds best places to do business.

Africa has some interesting results when compared in the Global Arena. South Africa ranks in at 39 Globally, which is not a big surprise; but it is NOT number one for Africa! Sub Saharan Africa may have a few surprises for some.

10thKENYA( Global Rank 121 )

Main Improvements 2010 – 12.

Kenya made paying taxes faster for companies by enhancing electronic filingsystems.

Better start up time frame for new businesses.

New case management system introduced reducing the time for commercial resolution disputes.

7thNAMIBIA( Global Rank 87 )

Main Improvements 2010 – 12.

Liquidation procedures clarified.

Connection to electrical grid reduced by 17 days.

Company Registration now electronically available, dramatically reducing time.

6thSEYCHELLES( Global Rank 74 )

Main Improvements 2007– 12.

Tax rate decreases of 22.7% through effective tax reductions in Corporate and labor taxes and effectively eliminated social security taxes.

5thGHANA( Global Rank 64 )

Main Improvements 2008 – 12.

Due to credit licensing approval the country now ranks 23rd in the world for access to credit.

Minimum capital to open a new business has been lowered dramatically and the time to incorporate reduced to 12 days from a staggering 42 in 2008.

9thUGANDA( Global Rank 120 )

Main Improvements 2010 – 12.

Streamlined its court system for better case processing period.

Established a private credit bureau.

Clarified mortgage rules to reduce risks involved when  borrowing to homeowners

8thZAMBIA( Global Rank 94 )

Main Improvements 2010 – 12.

Court process system revamped for the electronic age allowing electronic reference of cases, Laws and records.

Consolidated its boarder post with Zimbabwe and introduced online declarations reducing the time needed to import and export goods.

Abolished the minimum capital requirement for new businesses to encourage entrepreneurs.

4thBOTSWANA( Global Rank 59 )

Main Improvements  2008 – 12.

Business Start up time reduced dramatically.

Boarder post upgrades have resulted in far better time frames for import and export from South Africa. Shaving nearly a week in total since 2008.

Upgrades in the Law Court technology systems have decreased the time frame by a third for commercial resolution.

3thRWANDA( Global Rank 52 )

Main Improvements.

Ranked 8th in the world for ease of starting a business. Rwanda is actively encouraging Entrepreneurs.

Electricity connection reduced again from 2011 by over 40% to 30 days

Private credit bureau further integrated and consumers have

ndSOUTH AFRICA( Global Rank 39 )

Main Improvements  2007 – 12

Customs modernisation have resulted in reduced export times to 16 days, a reduction of nearly 48% since 2008.

Effective tax rate reduced from 37.1 % to 33.3 %. Hours required to prepare tax reports down by 150 hours since 2007.

With effective Credit agencies and a wealth of information mean that South Africa is on of the best places in the world to obtain credit.

Legal protection for both lender and borrower is unrivalled.

1stMAURITIUS( Global Rank 19 )

Main Improvements   2007 – 12

Credit agencies have high public registry meaning that 56% of the adult population is covered.

Judicial back log reduced after further appointments of Judges and court rooms.

Property transfers switched to electronic system and judicial statutes passed reduce time of property registration to just 15 days.

So there you have it. Just in case you were looking to start your own empire or run someone else’s, better to be in the know. Still a challenge, yet a rewarding one for those who take the time to stick with it.

Just for interest, Swaziland just missed out on a top 10 place coming in two places after Kenya at 123rd.

Tanzania was a surprise, coming in with a world ranking of 134th, behind Nigeria at 131st.

Angola despite leading the world through 2000 to 2010 for GDP came in 172nd, showing that even in difficult working locations, good, consistent profit can still be made.

Lastly it’s interesting to note that Africa holds 7 places in the World’s Top 10 Expected GDP for country growth until 2015. Of which only Zambia and Ghana make it on to both lists.  So live well, stay safe and invest wisely.

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