Africa as a continent that is rich in both human and natural resources, with each country having its own expertise and strength, in various spheres.
This, however, does not mean that, they are restricted to doing certain businesses.
There are certain African countries that are thriving in the business world and are able to attract foreign investors to invest and help them develop their country.
Some countries in Africa do not rely solely on Agriculture, Entertainment and Tourism, alone, but also on innovations, inventions and technology.
6 top countries, recommend to foreign investors, to do business in, in Africa, for various reasons are as follows:.
Nigeria is one of the countries, very rich in natural resources on the continent of Africa.
Sectors of the Nigeria economy can be divided into three 3 as follows:
Primary sector: agriculture, oil/gas, mining, forestry;
Secondary sector: light and heavy industry
Tertiary sector: services
Nigeria is ranked the 31st largest economy in the world, in terms of nominal GDP and 23rd largest, in terms of Purchasing Power Parity, as at 2018 statistics.
It is the largest economy in Africa, with a GDP of $349.299 billion and a population of over 200 million people.
All these combine to make Nigeria, a fertile ground for foreign investors, as they are guaranteed maximum returns on investment, if they do.
Mauritius is ranked 45th out of 168 countries in Transparency International’s Corruption Perception Index, as at 2015 and 20th out of 190 countries, in terms of Ease of doing business, as at 2018.
Its economy is based on tourism, textile, sugar and financial services.
Mauritius, an Indian Ocean Island nation, is a country in East Africa and is known for its beaches, lagoons and reefs.
One of the most interesting businesses in Mauritius is Tourism.
It is appreciated for its natural environment and side attractions, such as, tropical climate, beaches and water spots.
One of the tourist centres is flic en flac, a beach on the western part of the island.
Rwanda is one of the fastest growing economies in Central Africa.
The country aims to transform Rwanda from a low-income Agriculture-based economy, to a knowledge-based economy, with a middle income status.
Currently, 17% of the economy is urbanized, but the plan is to reach 35%.
Rwanda is ranked 29th out of 190 countries, in terms of ease of doing business as at 2018.
Rwanda is, currently, growing its economy, by boosting its foray into technology and innovation.
Morocco is ranked 60th out of 190 countries, in terms of Ease of doing business, as at 2018.
The country depends on exportation of raw materials for the sustenance of its economy.
Its economy, is also based on modern sectors, particularly tourism and telecommunications.
Morocco is one of the few Arab countries that have the potentials, to achieve self-sufficiency in food production.
Kenya is ranked 80th position out of 190 countries, on World Bank’s Ease of doing business list.
Kenya’s economy is based on telecommunications, transportation and energy.
This country is ranked 86th by World Bank, out of 190 countries, on its list on the Ease of doing business.
Botswana’s mining sector attracts the majority of its direct investments.
The country has the fastest growing economy rate per capita, in the world and has had the largest success in the mining sector.
Africa will continue to attract foreign investors because, she is not only rich in culture, but also in natural resources, which can improve her economy, asides Technology.
You can also read up our previous article on why investment in these African countries is a big deal.
Featured Image: en.wikipedia
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