Most African business venture are now in the process of business transformation. Some failed, and some are still striving. Generally speaking, African region has evolved from a risky business place to a very profitable one. Most African countries are hailed as more competitive nations in the entire globe. Investment in Africa was foreseen as the most alluring trend in every foreign economy.
African countries showed tremendous improvement throughout the years. They gained in their economy even with the presence of the financial global crisis. They never got intimidated, instead, they worked harder to obtain improvement and distinction when it comes to global economy. This transition happened because of the change in governance, business policies and by creating more trades than aids. But same thing goes, doing business is also providing help for Africans.
Mauritius was recently awarded as the easiest place to do business and trade, and the top regional performer in the whole African region. From a total of 181 countries, they are 24th according to the Doing Business Rankings. The criteria for selection includes: starting a business, dealing with construction permits, employing workers, protecting investors, paying taxes, enforcing contracts and closing a business. Right now, Mauritius is 33rd among 121 countries in the Global Enabling Trade Report 2009.
Rwanda was also named as the world’s top business reformer for 2009. They showed leap on their business organization processing, making it easy for foreign ventures to start their business in the country. Imports and exports are more efficient with investors getting tighter protection. Rwanda’s ranking was based on the number of impact reforms introduced in May 2009. Liberia was also mentioned in the top 10 most improved business reforms in the world.
Another country who received recognition from the global community is Egypt. The country is among the top ten around the world when it comes to the tourism industry, posing rapid growth every year, says World Travel and Tourism Council. One possible factor is the opening of opportunities for foreign investors to get good deals when it comes to businesses in tourism. The climate of the country is another reason for this growth. The density of rain every year increased while the winter temperature stay around 22c to 31c.
Nigeria and Ethiopia weire also specified as the most potential countries for investing, an index released by African Rainbow Consulting. Nigeria showed significant improvement in access to water, electricity and ITC infrastructure. Ethiopia comes second, showing also development on mentioned sectors. Indexing was conducted by considering each countries performance in energy and water supply, ITC, social capital and governance.
Other countries where every business is possible is South Africa, the region’s number 1 country. Egypt, Morocco, Mauritius, Nigeria, Algeria, Tunisia, Ghana, Seychelles and Namibia complete the list of top ten African countries who have brighter future. Africa known as the Dark Continent is continuously shining, enlightening the world who’s on its darkest point.
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