Although saddled with a history of slow growth, economic hardships and political woes, African countries are beginning to stem the tide of investor opinion regarding doing business in Africa. Leaders throughout the continent are working hard to provide macroeconomic stability, encourage foreign investment, create forward-thinking infrastructure and establish environments ideal for imports and exports. Five countries stand out as the best countries for doing business in Africa in 2017 and beyond.

Morocco

Located in northern Africa with easy access to Europe, Morocco has established itself as a leader in the march toward environmental reform. The country has the continent’s largest wind farm and has plans to develop an equally impressive solar farm. According to World Bank’s report “Doing Business 2017,” Morocco lands third place in Africa and 68th place worldwide for ease of doing business. It earned these choice spots in part by its ability to protect minority investors and increase corporate transparency.

Mauritius

Ranking 49th in the World Bank’s report, island nation Mauritius is a country for business investors to watch, with its focus on expanding technology and alternative energy sources. Like Morocco, Mauritius has also gained a positive reputation for protecting the interests of minority investors.

Rwanda

Despite a war-torn past, Rwanda is unifying and moving forward, instituting innovative business practices through its Vision 2020 initiative. The initiative’s goal is to transform the nation into a middle-income country with a focus on solid government leadership, increased education, a skilled labor force, a dynamic private sector, increased investment in information technology and a progressive infrastructure.

Senegal

At the end of last year, Ernst & Young ranked Senegal positively in it’s Africa Attractiveness Index. Debuted in 2014, Senegal’s “Plan for an Emerging Senegal” paves the way for future growth and development by focusing the country on a host of projects and change initiatives that include agricultural advances, tourism growth and educational reforms. Continued growth in the country’s GDP emboldens analysts to see Senegal as a developing area and an African country ideal for international investment.

Cote d’Ivoire

Most experts analyzing the best places to do business in Africa include the West African coastal nation of Cote d’Ivoire on their “top 10” lists. The country has recently extended its National Development Plan to the year 2020, with a strong focus on encouraging foreign investment. Richard Attias, formerly with the World Economic Forum in Davos, states that successful African countries will be those focused on economic diversification, manufacturing and renewable energy, putting Cote d’Ivoire squarely in that group.

Business investors and analysts agree that African countries are ripe for international investment, and businesses looking to expand should actively consider operations in Africa.

Cornfield & Partners can help you navigate the African business landscape as well as to discover market opportunities in Africa. To find out more about potential business opportunities, contact info@cornfieldpartners.com or call +44 (0)20 7692 0873.

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