Considered a regional force in Northern Africa, Algeria paves the way to significant business opportunities and many corporates, both mid-size and multinationals, are capitalising on the chance to grow there.
The Algerian economy is represented by a concentration of the workforce in secondary and tertiary sectors, despite a large part of the industrial sector being dependent on oil and gas resources.
Angola has been an oil-led industry for decades, but reforms and policies are changing the business landscape to facilitate more investment in the country. If your organisation is planning a move to Angola, you may be faced with a few challenges from a legal, cultural, and employment perspective and this may be time-consuming for you.
Angola is known to be abundant in minerals, fisheries, agriculture, and hydrocarbons. The country’s oil industry covers one-third of GDP and with crude oil constituting more than 90% of total exports.
Benin has been an agricultural-led industry for a long time, with the main export products being cotton, coffee, palm oil and cocoa. The country continues to invest further to diversify its economy, bridge the poverty gap and increase FDI with various initiatives to redefine the business environment.
Considered a stable economy, Benin was ranked 149th out of 190 countries in the World Bank’s Ease of Doing Business 2020 report.
Botswana is one of the largest producers of diamonds in the world and considered as being part of the world’s fastest growing economies. Besides diamonds, good governance and resilient economic management have contributed to making it an upper-middle economy.
For the past 53 years, Botswana’s socio-economic performance has enabled it to be classified as a middle-income country by the World Bank.
A landlocked country in Africa that borders Benin, Cote d’Ivoire, Ghana, Mali, Niger, and Togo, Burkina Faso paves the way to business investment opportunities, and numerous multinationals are capitalising on the chance to expand there.
Encompassing a mixed economic system, Burkina Faso is heavily dependent on the agricultural industry, with more than 25% of the population employed in the sector.
Burundi is a member of the East African Community and holds 6% of nickel reserves in the world. Having adopted the “Vision 2025” strategic development policy, Burundi has established future plans to develop its justice framework, transform the economy, stimulate investment opportunities, reinforce its civil society and focus on nature conservation.
As a landlocked country in East Africa, around 80% of the population is involved in the agricultural sector, resulting in Burundi’s status as a low-income country.
Considered a lower middle-income country, Cameroon is bordered by the Central African Republic, Chad, Equatorial Guinea, Gabon, and Nigeria. It is rich in natural resources such as oil, gas and mineral ores, produces high-quality timber and its agricultural outputs include coffee, cotton, cocoa, maize and cassava.
Cameroon's economy is largely dependent on exporting products such as oil, gas, timber, and agricultural commodities such as cocoa and coffee.
Considered as one of the best-ranked countries in sub-Saharan Africa according to governance indicators, Cape Verde has a stable political system and continues to invest in several industries to boost its economy in various sectors following the impact of the COVID-19 pandemic.
According to the World Bank, Cape Verde is one of the best-ranked countries in Sub-Saharan Africa in terms of governance protocols and efforts to fight corruption.
With a focus on several industries to drive its economy, such as agriculture (cotton, coffee), forestry and mining (diamond, gold, uranium), the Central African Republic remains an economy vulnerable to external shocks due to its difficult political situation.
The Central African Republic boasts a traditional economic framework, focused on agriculture, with forestry as a leading source of income.
Chad’s economy has been dependent on oil for a number of years, with climate change, security and the increasing number of refugees representing the current vulnerabilities to the country. Despite the challenges facing the country, Chad is focusing on investing in several industries such as infrastructure, health and education.
Chad has been an oil-producing country since 2003. As a landlocked Sahelian country in central Africa, security in Chad is an issue due to its struggles with conflicts arising in border countries and climate change...
Whilst Comoros’ economy is currently focused on subsistence agriculture, with the collaboration of the government, civil society, and various other institutions, the Plan for Emerging Comoros has been established with the aim to strengthen disaster recovery and resilience, improve the business environment and governance, and improve connectivity.
Comoros is one of the world’s poorest and smallest economies and comprises three islands that are hindered by weak transportation connections, an increasing population, and limited natural resources.
Congo is a country rich in petroleum and untapped mineral resources with significant potential in the agricultural sector. The World Bank continues to finance the country with regards to the economy, governance, small enterprises, agriculture, infrastructure among others to boost the country’s economic growth and improve living conditions.
Congo is ranked among the top 10 of Africa’s oil producers and has significant untapped mineral resources. The country is predominantly covered by tropical forests, with an extensive amount of arable land unused, representing around one-third of its total area.
As one of Africa’s fast-growing economies, the Democratic Republic of the Congo remains a country that still requires significant investment and know-how to improve its economic growth.
The Democratic Republic of the Congo continues to experience an economic recession due to the contraction of the oil industry following a decrease in production and oil prices globally. A nation that remains primarily dependent on the extraction sector and mineral resources, the Democratic Republic of the Congo lack diversification to boost further economic growth.
Djibouti is one of the smallest states in Africa and is home to the largest number of foreign military bases in Africa, including the United States, France, Great Britain, Japan, Saudi Arabia, and China.
The economy is driven by a high-end port complex, one of the most sophisticated in the world. The port is an efficient channel to trade, given Djibouti’s largest and major trading partner is Ethiopia. The main natural resources of Djibouti that can be maximised are tourism, marine resources yet to be tapped to support artisanal fishing...
Considered as the fastest growing economy in the Middle East and a resilient country in Africa, Egypt is working to develop major sectors of its economy, expand transportation, improve infrastructure, and rebalance its supply chain, as well as become a hub for business process outsourcing.
Considered as a middle lower-income country, Egypt is one of the few African countries that has remained strong and resilient since the economic reforms established a few years ago.
Known for being rich in mineral resources and petroleum, Equitorial Guinea is considered as one of the fastest growing economies in Africa. With its strategic initiatives to boost growth, the economy is forecast to grow by 2.6% in 2021, due to the realisation of a large gas project and the betterment of the world economy following the Covid-19 pandemic.
Equatorial Guinea is bordered by 3 African countries namely Cameroon, Gabon, and the Gulf of Guinea. It is rich in arable land and mineral resources – gold, oil, uranium, diamond, and columbite-tantalite, as well as petroleum.
Eritrea is strategically located in the Red Sea. The country has extensive mineral resources (potash, copper, gold, silver, zinc). The country is forecasting a GDP growth of 5.7% in 2021 and is rapidly supporting several sectors of its economy to attract Foreign Direct Investment.
Eritrea’s growth performance has been affected by the Covid-19 pandemic, with a widening in public deficit and disruption in demand and supply chains.
Considered as one of the oldest countries in the world, Ethiopia is a country known for its regional and international trade activities for years offering diverse job and employment outsourcing opportunities to boost its economy.
With over 112 million citizens, Ethiopia is the second-most populous nation in Africa after Nigeria and is considered the fastest growing economy in the continent.
Gabon is currently the fifth largest oil producer in Africa and enjoys an upper-middle income economy. The country’s growth has been supported by its oil production and manganese.
Located on the Atlantic Ocean, Gabon is bordered by Cameroon, Equatorial Guinea, and the Republic of Congo. The country has an abundance of natural resources, with forests that cover 85% of the country. The country has one of the highest urbanisation rates, whereby most of the citizens live in cities such as Libreville and Port Gentil.
Surrounded by Senegal, Gambia is a small, but densely populated country located in Western Africa. Growth in the country is led by tourism and agriculture. However, the country faced a few challenges due to the Covid-19 pandemic, but with financial support from the World Bank and the International Monetary Fund (IMF)...
Being a small country in Western Africa and bounded by Senegal, Gambia is considered to have a fragile economic system. Faced with the Covid-19 pandemic, the country registered a decline in the tourism and trade sectors leading to no growth and causing poverty to rise again.
Having abundant natural resources and exporting agricultural products, Ghana continues to show growth. Despite being faced with the Covid-19 pandemic, the Alleviation and Revitalisation of Enterprises Support (CARES) program has helped to boost business confidence and household revenue.
Ghana experienced a recession for the first time in 38 years, faced with the spillover effects of the Covid-19 pandemic that affected the country's second and third quarters of 2020.
Considered as a tropical country on West Africa's Atlantic coast, Guinea Bissau is an agricultural-led economy, dependent on cashew nut exports. The Covid-19 pandemic and closure of borders have halted the economic system for a while...
With a primary reliance on international assistance, a subsistence economy, and the export of cashew kernels and fish, Guinea Bissau remains one of the world's most fragile economies. Significant developments remain in the pipeline to bring the country to new heights...
Guinea is known for being rich in natural resources, from bauxite to iron ore, gold, and diamond. The country is currently working on its diversification plans to attract international investors, relevant partnerships, and employment outsourcing opportunities...
Ghana’s natural resource is experiencing growth and the government is focusing on economic diversification. The country is investing more efforts in developing natural resources and providing productive leadership to drive initiatives.
Considered as a developing economy, Ivory Coast has recorded growth for quite some years, and the country is currently diversifying to boost its growth potential further.
Ivory Coast used to be a regional hub for business and attract foreign direct investment with cocoa and coffee as major export products. Representing 85% of the Gross National Product, the private sector is the backbone of the country.
Kenya is one of the most thriving countries in Africa, and on the path to transformation and diversification. Significant reforms and political stability have boosted growth in the country. As Kenya develops further, it continues to create employment outsourcing opportunities...
Kenya is known to be the most diversified economy and the largest country among the East African Community (EAC). The country is primarily driven by the private sector, and it is the second-highest-ranking economy in sub-Saharan Africa, just after Rwanda.
Neighboured by South Africa, Lesotho is a small country that has faced some challenges for the past few years. Being largely agricultural-led, with diamond mining also a contributing sector to the country’s GDP...
Bordered by South Africa, Lesotho is a small, landlocked country considered a low-middle-income economy. The private sector is quite small, hence the state has the upper hand in being the key player. For the past few years, the country's economic performance has been affected by various factors...
Rich in untapped natural resources, Liberia is on the path of fundamental developments to counter the challenging economic environment caused by Ebola and the Covid-19 pandemic. As the country devises reforms to develop trade, agriculture among others, employment outsourcing opportunities...
Affected by the Ebola some time back and faced with a challenging economic environment, Liberia has had to face the after-effects of the Covid-19 pandemic.
Libya has been oil-led economy for decades, but ongoing conflicts and a blockade of oil terminals and oil fields have affected the Libyan economy. The country is currently working on reforms and collaborating with the World Bank and other donors...
Having the largest oil reserves in Africa, the economy has suffered from political instability and conflict over the control of oil fields. Due to the resumption of armed conflicts, the Country Engagement Notice’s program (CEN) is working on initiatives to improve lives, and at the same time explores diversification.
Madagascar is a country with an abundance of mineral and petroleum reserves, significant agricultural potential, and is among the world’s top producers of vanilla. Madagascar has often faced challenges such as cyclones, floods, and recently the pandemic...
Madagascar is known for its abundance in mineral reserves, precious stones, nickel, cobalt, as well as petroleum reserves. It has significant potential in the agricultural industry, considered among the world’s leading producers of vanilla.
Surrounded by Tanzania, Mozambique, and South Africa, Malawi is a landlocked economy that thrives on agriculture, tobacco, manufacturing, and service sectors. According to African Development Bank, growth is forecast to grow to 6.2% in 2022...
Malawi is relative a peaceful country, landlocked and sharing borders/trade routes with Mozambique, Tanzania, and South Africa. The country relies on agriculture, manufacturing, and service industries.
Being the biggest country in West Africa, Mali is rich in agriculture (cotton), gold and mineral resources. With international assistance and recovery in certain sectors such as cotton production and the mining sector, Mali is expected to return to positive growth momentum soon.
Being a Sahelian economy, Mali is known for being a low-income country, faced with a lack of diversification and fragile to fluctuations in commodity prices. The Covid-19 pandemic and socio-political challenges have led the country into a recession...
Located in Northwest Africa, Mauritania is a country rich in mineral and fishery resources. The country has a high potential in the energy industry, being Africa’s newest oil producer.
Being an agricultural-led as well as a country that has significant natural resources, Mauritania boasts macroeconomic stability to some extent, even in challenging outlooks. The country is rich in mineral resources such as iron, gold and copper, and is also abundant in fishery resources.
Strategically located at the crossroads of Africa and Asia, Mauritius is a peaceful country that forms part of the Indian Ocean islands that thrives on tourism, sugar, and a robust financial sector. With a skilled and bilingual workforce, the country is ranked 1st in Africa in the Ease of Doing Business Report by the World Bank.
Considered as a peaceful, economy in the Indian Ocean, Mauritius has a talented and bilingual workforce, including legal, finance, accounting, investment and real estate professionals among others.
Strategically located in Africa, close to European markets, Morocco is a fast-growing economy with political stability. Investments across various sectors of the economy are being set up to support the energy, telecommunications, and other service industries to boost the economy and create jobs.
Morocco boasts a typical Mediterranean climate, with hot summers and mild wet winters. Tourism is a major boost to the economy which was affected by the Covid-19 pandemic. Morocco is dependent on agriculture, representing in turn between 13% and 16% of the nation’s GDP, and employing 40% of the workforce.
Bordered by Tanzania, Malawi, Zambia, Zimbabwe, South Africa, and Eswatini, Mozambique is rich in significant arable land, water, energy, mineral resources, and natural gas offshore. The economy comprises three deep seaports and a large workforce.
Having a long coastline and closely located to South Africa, Mozambique has a strategic location in the African continent. The country thrives on its services sector (education, repair of vehicles, transport) that represents 49% of total GDP.
Surrounded by South Africa, Botswana, Zambia, and Angola, Namibia is considered to be an upper-middle-income economy with an abundance of mineral resources. The mining industry is expected to boost the growth of its key sectors.
Namibia is bordered by South Africa, Botswana, Zambia, and Angola. Considered as the driest country in sub-Sahara Africa, Namibia is abundant in mineral resources, that includes diamonds, copper and uranium. The country is known to have good transport infrastructure, boasts good governance and has huge tourism potential.
Niger is surrounded by various African countries namely Algeria, Libya, Nigeria, Benin, Chad, Burkina Faso, and Mali. The country’s strength in certain sectors is noticeable such as petroleum, agriculture, gold. According to statistics, the GDP of Niger is forecast to trend around $ 15 bn in 2022 and $16.50 bn in 2023...
Niger is the 6th largest uranium producer in the world. The country exports petroleum and gold too and engages itself in agriculture and infrastructure development. Niger forms part of various memberships, including the West African Economic and Monetary Union (WAEMU)...
Nigeria is known to have an abundance of hydrocarbon resources, agricultural potential and untapped mining reserves. Lagos, being the country’s largest city is considered as the economic hub and financial centre and houses one of the largest and busiest ports on the continent.
Nigeria is known to be the most populous country in Africa. The country is rich in hydrocarbon resources, the 11th country in the world for proven reserves, 9th for gas. Agriculture is also their strength – the country is the 5th largest cocoa producer in the world.
Rwanda is known to have geological potential in several resources – cassiterite, coltan, gold, and certain precious stones. The country is known to have significant tourism potential and a favourable business environment in Africa.
Considered as a small and landlocked economy, Rwanda boasts one of the best business environments in Africa. The country has significant tourism potential and untapped geological resources such as gold, precious stones and coltan.
Sao Tome is a small, lower-middle-income economy. The country is in a remote location and is thus more fragile to terms-of-trade challenges. Currently, the World Bank Group’s Country Partnership Strategy (CPS) is actively working towards...
Being an African nation close to the equator, São Tomé is known not to have been severely impacted health-wise by the Covid-19 pandemic. However, just like most countries, the tourism sector has been affected due to the closure of its borders.
Senegal is located on the western part of the continent and is considered as one of the most stable economies in Africa. The country is abundant in oil, natural gas, and mineral resources. Senegal is working on its strategic plans to reduce the socio-economic after-effects...
Senegal is known to be a stable country for a long time and is part of the West African Monetary Union (WAEMU). The country is rich in oil and natural gas reserves as well as other minerals such as gold, phosphate, platinoids...
With an archipelago of 115 islands in the Indian Ocean, Seychelles is known for its beaches, coral reefs, nature reserves, and more. The country is actively working with the World Bank, IMF, and other development partners to support the conservation...
Situated on the northeast of Madagascar, Seychelles has the highest GDP per capita in Africa. The country is very reliant on tourism and climate change brings forward some risks for the long term. Growth has declined due to the...
Located in West Africa, and bordered by Guinea and Liberia, Sierra Leone is a country that thrives on agriculture, construction, iron ore production and exports. The country is forecasting increase in investments in several other sectors such as crops, livestock and fisheries.
Bordered by Guinea and Liberia, Sierra Leone is known as one of the poorest countries in the world. The country is reliant on the export of agricultural (palm oil, shrimp, dried fish) and mineral goods...
Since the past few years, Somalia has experienced political and institutional progress and is thus less vulnerable. The country’s private sector is known to be resilient and innovative while the political aspects in the Horn of Africa and Red Sea regions are going through major changes...
Most of the citizens are employed in small businesses such as traders, herders and agricultural producers. The primary source of revenue remains foreign trade. Somalia is significantly dependent on foodstuffs...
South Africa is the second-largest country in Africa with around 60 million residents. The country has a relatively stable economy and is an attractive destination for investment, trade, and business expansion.
Considered to have a large, and young population, South Africa represents a regional economic and political power in the African continent. The country is abundant in natural resources such as gold, platinum, coal, rare metals among others, with developed services and a healthy financial market and banking system.
Gaining its independence from Sudan in 2011, South Sudan is known to be the world’s youngest population. Even though the country’s main export is crude petroleum, the country is still in need of humanitarian assistance.
South Sudan is dependent on the neighbouring economies for its supplies of food, construction materials and other consumer goods. Trade is liberalised in South Sudan, and the country is a fundamental trading partner for Uganda and Kenya.
Sudan is located at the crossroads of Sub-Saharan Africa and the Middle East. The country is rich in mining resources such as gold and oil as well as agriculture consisting of untapped arable land.
Strategically located at the crossroads of Sub-Saharan Africa and the Middle East, Sudan is bordered by seven countries namely Libya and Egypt Chad, the Central African Republic, South Sudan, Ethiopia, and Eritrea. The country has untapped agricultural and mining resources.
Bordering Mozambique and South Africa, Eswatini was formerly known as Swaziland. The country has strong economic ties to South Africa, which represents 90% of its imports and around 60% of its exports. Eswatini is reliant on agriculture, textile, mining, manufacturing, and forestry.
The most developed, urbanised and industrialised region of the country is the Manzini Mbabane corridor. The country is dependent on agriculture, textile, mining, manufacturing, and forestry. The agricultural industry employs a large number of locals.
Tanzania has abundant mineral resources such as gold and copper as well as significant gas potential. The country’s strategic location makes it easy to trade with the neighbouring economies and enhances its regional trading cooperation to boost further its economy.
Tanzania is known as a lower-middle-income country status. Its progress today shows sustained macroeconomic stability that has led to growth. Tanzania is rich in mineral resources such as gold and copper and has gas potential...
Togo is found on Africa’s west coast and is bordered by Ghana, Benin, and Burkina Faso. The country is known to be the world’s 4th largest producer of phosphate. As the economy develops, Togo is activating its National Development Plan (NDP) to transform the country in order to boost growth...
Togo is known to be among Africa’s smallest countries. In spite of being the fourth-largest producer of phosphate, Togo is still known to be one of the least developed countries in Africa. The country grows a wide range of cash and subsistence crops...
Tunisia is located on the Mediterranean coast of Northwest Africa. The country is primarily reliant on agriculture, mining, tourism, and manufacturing. With abundant natural resources such as phosphates and hydrocarbons, Tunisia is also known for its growth in tourism...
Located on the Mediterranean coast of Northwest Africa, Tunisia is known to be a fully democratic system. The pandemic hit the economy last year but is currently on the path of economic recovery. The country has huge tourism potential...
Sharing borders with South Sudan, Kenya, Tanzania, Rwanda, and the Democratic Republic of Congo, Uganda is known to be Africa’s leading coffee exporter. The country is rich in natural resources, including oil fields, and has huge potential in agriculture and...
Bordered by South Sudan, Kenya, Tanzania, Rwanda, and the Democratic Republic of Congo, Uganda is known to be Africa’s leading coffee exporter. The country has abundant natural resources such as fertile land, oil fields, hydroelectric potential...
Bordered by several African economies namely Angola, Botswana, Democratic Republic of Congo, Malawi, Mozambique, Namibia, Tanzania, and Zimbabwe, Zambia is a landlocked and resource-rich country with high potential in various sectors...
Considered as a landlocked economy, Zambia shares borders with eight African countries namely Angola, Botswana, Democratic Republic of Congo, Malawi, Mozambique, Namibia, Tanzania, and Zimbabwe. Zambia is a resource-rich country with mineral wealth...
Landlocked between South Africa and Zambia, Zimbabwe is rich in mining resources and agricultural resources. After around a decade plagued by hyperinflation, Zimbabwe has been rebuilding its economy with the help of the World Bank Group...
Considered as a landlocked economy in Southern Africa, between South Africa and Zambia, Zimbabwe is rich in mining resources such as platinum, gold, diamonds, and nickel. In terms of agriculture, the country has an abundance of maize, tobacco, and cotton.
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