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Top 10 African Countries to do Business, according to Forbes

#1 Mauritius:

sland off the coast of east Africa is ranked 39th in the overall list. Transformed from a low-income agricultural based economy into a diversified upper middle-income economy with growing financial, industrial and tourism sectors along with sound economic policies and prudent banking practices backs up Mauritius’s ranking. Highly ranked in Trade Freedom, 4th, and Property Rights, 34th, Mauritius is the best country for business in Africa.

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#2 South Africa

At the Southern tip of Africa, South Africa is ranked 48th in the overall list. South Africa is a middle-income emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world. Unemployment, poverty and inequalities in South Africa are among the highest in the world but with their ratings in Investor Protection, 22nd, and Property Rights, 30th, South Africa is the 2nd best country for business in Africa.

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#3 Morocco

Africa’s most northern country Morocco, 51st on the overall list, has taken advantage of it proximity to Europe and their reasonably low labour costs to build a diverse, open-market economy. Despite Morocco’s economic progress, the country suffers from high unemployment, poverty, and illiteracy, particularly in rural areas. With their rankings of 17th in Market Performance and 21st in Monetary Freedom, Morocco is Africa’s 3rd best country for business.

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#4 Namibia

The Southern African country is ranked 63rd on the overall list. Namibia is the worlds 5th largest producer of Uranium and has an economy that is heavily dependent on the extraction and processing of natural mineral resources for export. Namibia is ranked 5th in Market Performance and 55th in Trade Freedom, this sees them ranked 4th in this list.

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#5 Botswana

This Southern African country, ranked 68th overall, fueled by diamond mining has maintained one of the worlds highest economic growth rates since 1996. A downturn in the global diamond market as well as water and power shortages have seen Botswana growth slow slightly but with rankings such as 28th in Corruption and 44th in Property Rights, Botswana is Africa’s 5th best country for business.

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#6 Cape Verde

An Island off the northwest coast of Africa, Cape Verde is number 70 in the overall list. The economy is service-oriented with commerce, transport, tourism, and public services. Although the country suffers with a poor natural resource base, they are ranked 1st for Personal Freedom and 14th in Monetary freedom, which sees them placed as Africa’s 6th best country for business.

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#7 Rwana

East African country Rwanda is placed 78th in the overall list. It is a rural country where 90% of its population is involved in sustenance agriculture and minerals. Rwanda’s main sources of foreign exchange are tourism, minerals, coffee and tea. With rankings such as 33rd in Property Rights and 47th in Innovation, Rwanda are the 7th best country for business in Africa.

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#8 Senegal

Senegal is a West African country that is placed 81st in the overall list. The economy of this country is driven by mining, construction, tourism, fisheries and agriculture. Although the country has a heavy reliance on direct foreign investment, donor assistance and remittances, their rankings in Personal Freedom, 42nd, and Innovation, 50th, sees Senegal ranked as the 8th best country for business in Africa.

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#9 Zambia

Southern African country Zambia, ranked 86th overall, has had one of the fastest growing economies over the last 10 years. In spite of Zambia’s lack of diversification and over reliance on copper trading their rankings of 51st in Tax Burden and 66th in Innovation, sees them place in at 9th in this list.

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#10 Tunisia

Ranked 87th overall, North African country Tunisia has long be hailed as an African success story due to its diversified market-orientated economy. With rankings such as Market Performance, 39th, and Personal Freedom, 42nd, Tunisia is ranked the 10th best country for business in Africa.

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