Top 10 Best Countries For Doing Business In Africa

welcome to the new Afrikan channel and thanks for watching in this video we shall be taking a look at the top 10 best African countries for doing business the Doing Business Index as a ranking index system created by the World Bank Group which indicates the regularity environment of businesses a higher ranking which is indicated by a lower numerical value specifies stronger protection of property rights and vice versa the World Bank has annually been measuring the quality of worldwide business environments for the past 15 years with its doing business ranking system over 190 economies have been scrutinized on criteria including electrification and ease of business creation the tax burden and the protection of property rights doing business measures regulations of the labour market which has not been included in this year's ranking and 411 areas in the lifecycle of a business ten of these areas have been included in this year's ranking on the ease of doing business they are starting a business obtaining a building permit connecting to electricity transferring ownership getting credits protecting minority investors payment of taxes cross-border trading enforcing contracts resolving insolvency following these criteria we will present shortly the top 10 African economies as ranked in this year's doing business report before we start if you are new here welcome be sure to subscribe to our Channel and turn on notifications so you don't miss any of our videos number 10 Seychelles Seychelles scored 60 1.7 in the 2020 doing business report which placed the country in the one-hundred position with a population of 95,000 660 inhabitants in 2019 the country came in 96 in the 2010 report by removing administrative barriers in offering a variety of economic incentives the government has worked hard to create a strong environment for investment the private sector is playing an important role in the economic dynamism that the country is experiencing the government is also supporting the efforts made by the Seychelles investment Bureau and the Financial Services Authority these two institutions are dedicated to empowering foreign investments in the country Seychelles is not only an amazing tourist destination doing business in the country is quite easy its ranks at the tenth position in Africa and the one hundredth in the world number nine Togo for the second year consecutively Togo is ranked among the top ten reformers of the world and the first in Africa according to the latest doing business report indeed the index which ranked 190 countries based on ease of doing business places the West African nation at the 97th position this is a major leap up 40 places compared to the previous edition of the report even if that year the country's ranking had soared by 19 places the government of Togo is working extremely hard to make Togo one of the best country in Africa for business starting and running a business in togo's is extremely simple which is why it ranks at the ninth position in Africa and the 97th position globally number eight Botswana while it was marked as the 71st country in the World Bank's 2017 report Botswana lowered its status in the 2018 report it is now ranked at 86th globally and sixth in Africa with a score of sixty five point four zero for this year's report it scores have improved but its position has declined economists explained that this drop was caused by the lack of interest to invest in the diamond industry investors assume that Botswana does not need international investments the results show a noticeable decline in the rates of investments from 2015 to 2016 25 percent to 30 percent Botswana currently ranks as the eighth best African country for business and the 87th in the world number seven Zambia according to the doing business report of 2020 Zambia has improved from the 87th position 2019 to the 85th position 2019 with a score of 66 point 9 Zambia is also among one of the world's top ten economies with the most notable improvements the report indicates that Zambia has did three regulatory reforms as well firstly the government empowered access to credit by launching the new movable property tax act secondly the country established a new unified collateral registry and lastly the country implemented a reform that reduces the tax rate of transferring property Zambia currently ranks in the 85th position globally number six South Africa with a score of sixty six point zero three the 2019 report ranks South Africa 82nd this country has always been the most powerful country in Africa in terms of tourist attraction as millions of tourists visit South Africa each year to enjoy its beauty the government is working hard to reach the same status in attracting foreign investors by providing them with various facilities to do business in this area is now evolving rapidly and it offers real business opportunities to investors from all nationalities the government offers a full range of investment incentives for domestic and foreign investors these incentives are managed by the Department of Trade and Industry DTI and various other agencies number five tunisia tunisia now ranked at 80th position globally with a score of 66 point 1 1 points in doing business report 2019 and has risen eight places from its spot at eighty eight in the 2018 report following behind morocco the cradle of the arab spring is the second country in doing business in north africa according to the doing business study the score achieved by tunisia as the result of several factors some areas that have been evaluated include obtainment of a building permit creation of businesses connection to the electricity grid registration of property imports exports the report also states that setting up a business in Tunisia requires an average of 11 days and 9 administrative procedures because of these conditions Tunisia has ranked 90th out of 190 with a score of 63 additionally businesses would have to go through 18 administrative procedures which would require an average of 96 days this puts Tunisia dealing with construction permits in with a score of 77 the doing business study highlights the taxation problem in Tunisia with a score of 133 in fact an average of nine tax payments must be made annually representing sixty four point one percent of the company's profit in addition Tunisia's export and import activities are ranked in the 100 first position with a score of 70 point five zero of 100 between documents and procedures approximately 107 hours are needed for an import operation number four Kenya Kenya came in fourth positions among African countries in doing business report 2019 by coming in at the 61st position globally with a score of 70 point 3 1 points compared to the 2018 report when it was ranked 80th the improvements are driven by the government and the private sector in the business environment last year Kenya delivered the highest number of business-related reforms on the African continent said Adnan Mohammed secretary of the industrialization cabinet in fact Kenya has gained 53 positions over the last three years the country's position in the 2010 doing business report remains its best performance in the last 15 years to put it into perspective kenya was ranked 113th in 2016 because the kenyan government in addition to the private sector wants to be in the top 50 countries by the year 2020 kenya is working hard to facilitate the process of creating and doing business in different economic sectors the 2019 report states that kenya has improved the reliability of electricity by investing in its distribution lines and transformers additionally they have also created a power station that restores power when necessary this improvement has also helped to give easier access to credit information through the positive involvement of banking institutions the ranks occupied by Kenya under these various indicators are as follows startup 126 obtaining a building permit 128 connection to electricity seventy fifth registering property 68 access to credit 122 th protection of minority investors 11 payment of taxes 91st cross-border trade 112 execution of contracts 88 resolving of insolvency 57 moreover Kenyan authorities have made the process of paying taxes easier by creating an online service I tax this provides people with the opportunity to fill in and pay corporate income taxes online instead of moving from one place to another to collect different documents the country has also started a company that offers a single window this decreases the amount of time that it takes to collect necessary documents number 3 Morocco this report ranks Morocco in the 60th position with a score of 71 point zero two points therefore Morocco confirms its position as a leader in North Africa ahead of Tunisia 80th Egypt 120th and Algeria 157 the kingdom has also managed to climb to the top ranked among the Middle East and North African Mena countries behind the United Arab Emirates 11 and Bahrain 62 th and for the first time ahead of the Sultanate of Oman 78 according to the same report on the African continent Morocco maintained its third position with a score of 71 point zero two out of 100 the ranks occupied by Morocco under these various indicators are as follows start up 34th obtaining a building permit 18th connection to electricity 59 registering property 68 access to credits 112 protection of minority investors 64th payment of taxes 25th cross-border trade 60 second execution of contracts 68 resolving of insolvency 71st Morocco has also maintained its position in the second-best category of countries in terms of ease of doing business in the world says the Department of the head of government they explained that the World Bank has created five categories of countries of which the first includes the Organisation for Economic Cooperation and Development OECD countries on the basis of the filed reforms presented by Morocco in July 2017 to the World Bank it was observed that only two reforms were counted regarding the business startup indicator the World Bank took into account the reduction of company creation time in Morocco this followed the abolition of a fixing physical stamps with the use of the integrated taxation system as for the indication of the payment of taxes the doing business 2018 report welcomes the facilitation of payment procedures through simplifying and generalizing all payment procedures number two Rwanda Rwanda emerged in the top 30 countries of the World Bank's Doing Business Report for the first time with a score of seventy seven point eight eight globally Rwanda as 29 on the Ease of Doing Business ranking compared to the 41st position in last year's report in addition the country has made 52 reforms over the last decade bringing significant improvements to the environments of business and investment notable reforms include that of improving the building permit process by increasing quality control during construction with the introduction of risk-based inspections rwanda has made the task of registering Goods easier by using online services that facilitate the registration of property transfers the country has an effective Land Registry that takes seven days to transfer the property and it costs 0.1% of the property value on this indicator rwanda has now ranked second in the world rwanda has also strengthened the protection of minority investors by facilitating the prosecution of directors this has clarified ownership and control structures and demanded greater corporate transparency tax policy reforms have also facilitated the payment of taxes by establishing an online system for filing and paying taxes additionally the report also states that Rwanda has facilitated the execution of contracts this has been achieved by making judgments in commercial cases rendered at all levels accessible to the general public through publication on the judicial website the ranks occupied by Rwanda under these various indicators are as follows start up 51 obtaining a building permit 106 connection to electricity 68 registering property second access to credits third protection of minority investors 14 payment of taxes 35th cross-border trade 88 execution of contracts 78 resolving of insolvency 58 number one Mauritius the World Bank has revealed that Mauritius has positioned in 20th place worldwide and in 1st place in Africa with a score of 79 point 5 8 the country has ranked 20th place higher this year from its position in the 2018 doing business report with a score of 79 point 5 8 points out of a total of 100 Mauritius has improved its ranking in 8 of the 10 previously mentioned business lifestyle areas the ranks occupied by Mauritius under these various indicators are as follows start up 21st obtaining a building permit 15 connection to electricity 34 registering property 35th access to credits 60th protection of minority investors 15 payment of taxes 6 cross-border trade 69 execution of contracts 27 resolving of insolvency 35th the World Bank revealed that Mauritius has also implemented for reforms outsourcing of sewerage design and connection facilitation of cross-border trade simplification of ownership transfers with a reduction of transfer costs the introduction of a recourse mechanism for the publication of service standards there you have it viewers those were the best 10 countries for doing business in Africa if you are considering setting up a business in Africa those are the favorable countries to consider based on the current World Bank ranking if you enjoyed this video please leave a comment below and don't forget to subscribe to our channel so you don't miss out on our top 10 list you can also contact us with your top ten suggestions you want us to present thanks for watching and watch out for our next top ten list

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Id: l_sSoy0GuLU

Length: 15min 42sec (942 seconds)

Published: Sun May 31 2020