The top 7 African countries our clients have expanded to in 2024 (and why)

Africa is no longer a “future opportunity”, it’s a present-day growth engine. 

Our 2024 data shows that client expansion was concentrated in 7 countries, which together accounted for over 35% of all African market activity recorded in NetSuite. These countries – South Africa, Kenya, Morocco, Nigeria, Côte d’Ivoire, Mauritius, and Egypt – stand out for their specific strategic advantages, ease of doing business, and rapid development. 

Here’s why global and regional clients are increasingly choosing these African business destinations: 

1. South Africa 

Total Expansions: 9.66%  

With the lion’s share at close to 10% of all client expansions in 2024, South Africa remains the continent’s most diversified and industrialised economy.  

• Robust infrastructure and a well-developed financial system, with mature financial markets 

• Strategic cities like Johannesburg and Cape Town serving as regional HQs 

• Access to southern African markets via SADC trade agreements

Why clients expand to South Africa 

• Greater opportunities to scale business 

• Reliable infrastructure 

• A business-friendly legal framework, especially for regional hubs, B2B services, and manufacturing. 

2. Kenya 

Total Expansions: 7.73% 

The “Silicon Savannah” makes it to the top of yet another list. Kenya continues to attract attention for its innovation ecosystem and digital adoption. 

• A thriving fintech and mobile economy (with platforms like M-Pesa leading the market in innovation and user-friendliness) 

• High levels of entrepreneurship and youth engagement, with the number of registered businesses in Kenya increasing, with over 144,500 entities registered between July 2022 and June 20231 

• Good regional logistics and an air transport hub (Nairobi’s Jomo Kenyatta Airport) 

Why clients expand to Kenya

Fast-paced digital growth, tech-savvy consumers, and a strategic East African location. 

3. Morocco 

Total Expansions: 4.46% 

Over the years, Morocco has transformed into a key export and logistics hub, serving as a gateway between Africa, Europe, and the Middle East. Its thriving automotive and aerospace industry set it apart, and drive development in the region.  

• Access to Tangier-Med, one of Africa’s biggest ports, facilitating logistics, import and export  

• Trade-friendly government policies and industrial free zones. 

• Strong manufacturing sectors (automotive, textiles, aerospace). 

Why clients expand to Morocco 

It is an ideal location for companies bridging European and African markets, it provides excellent nearshore opportunities – especially in manufacturing, logistics, and trade. 

4. Nigeria  

Total Expansions: 4.01%  

With Africa’s largest population and economy, Nigeria remains a magnet for business. 

• Africa’s largest market, with over 220 million consumers, mostly under 30 years old 

• Exploding growth in fintech, fashion, film, and e-commerce. 

• Lagos as a fast-evolving business and startup hub. 

Why clients expand to Nigeria

Market size and long-term growth opportunities in consumer goods, tech, and entertainment. 

5. Côte d’Ivoire/Ivory Coast 

Total Expansions: 3.56%  

Côte d’Ivoire has quietly become one of West Africa’s most stable and fastest-growing economies. 

• Booming sectors in agriculture (being the world’s largest producer and exporter of cocoa beans, and also a major producer of rubber, palm oil, bananas, cotton, and coffee), construction, and telecom. 

• It is becoming increasingly tech-friendly, as evidenced by the $3 billion government investment2 in internet access and the adoption of a Startup Act.  

• Abidjan as a key commercial hub for Francophone Africa. 

Why clients expand to Côte d’Ivoire

 A stable, French-speaking gateway to West Africa, it is especially known for regional trade and agriculture-driven industries. 

6. Mauritius  

Total Expansions: 3.42% 

Mauritius may be small in size, but it punches above its weight class as a financial, legal, and outsourcing hub. 

• With one of Africa’s most efficient and business-friendly environments, Mauritius offers zero capital gains tax, a highly skilled bilingual workforce, and strong rule of law 

• Mauritius offers a safe, low-risk platform for managing regional investments or setting up shared services 

• Sectors such as fintech, IT outsourcing, and fund management are particularly well supported by efficient infrastructure and logistics   

Why clients expand to Mauritius  

For companies seeking a stable base of operations or a tax-efficient gateway into Africa and Asia, Mauritius offers several strategic advantages. 

7. Egypt  

Total Expansions: 2.82%  

Egypt is North Africa’s champion when it comes to population, infrastructure, and geopolitical importance. 

• With over 110 million people, it offers a large and growing domestic market. 

• Major infrastructure projects like the New Suez Canal and the New Administrative Capital signal long-term national development. 

• Egypt is also a hub for manufacturing, real estate, telecommunications, and renewable energy. 

• Through the COMESA trade bloc, Egypt provides access to markets across eastern and southern Africa. 

Why clients expand to Egypt

Egypt provides opportunities for business at a large scale, connectivity, and competitive labour costs, making it a strategic choice for production, logistics, and regional expansion. 

Choose a trusted EOR and payroll partner in Africa  

Each one of these countries represents a distinct opportunity depending on industry, language, and geography. From the industrial powerhouses of South Africa and Egypt to the digital ecosystems of Kenya and Nigeria, to the trade and financial experts like Morocco, Côte d’Ivoire, and Mauritius, the African continent is more dynamic than ever.  

Trusted by over 400 clients across 46+ African countries, Africa HR Solutions is a partner you can lean on as you pursue growth and greatness in Africa.  

To find out how we can help you best, chat with one of our consultants today.