Top 10 Best Countries in Africa For Doing Business.

Welcome to Displore and Thanks for watching, In this video, We shall be taking a look at the Top 10 Best African countries for Doing Business. The World Bank’s Doing Business 2020 is the 17th in a series of annual studies investigating the regulations that enhance business activity and those that constrain it. It provides quantitative indicators covering 12 areas of the business environment in 190 economies.
The goal of the Doing Business series is to provide objective data for use by governments in designing sound business regulatory policies and to encourage research on the important dimensions of the regulatory environment for firms.
On October 24, the World Bank released its 17th Ease of Doing Business Report. In the report, it ranked 190 countries across the globe according to how easy or difficult it is to do business as a consequence of government policies . Doing Business measures regulations of the labour market (which has not been included in this year’s ranking) and for eleven areas in the life cycle of a business. Ten of these areas have been included in this year’s ranking on the “ease of doing business”. They are; Obtaining a building permit, Connecting to electricity, Transferring ownership, Getting credits, Protecting minority investors, Payment of taxes, Cross-border trading. Enforcing contract, and Resolving insolvency.
If you are new here, welcome, be sure to subscribe and turn on notification so you don’t miss any of our videos.
On the African front, several countries did climb up the list, signalling more favourable government policies with respect to doing business. So, here are the Top 10 best African Countries for doing Business.
10. Seychelles, Score – 61.7
Seychelles scored 61.7 in the 2020 Doing Business report, which placed the country in the 100 position. With a population of 95,660 inhabitants in 2019, the country came in 96th in the 2010 report. By removing administrative barriers and 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 10th position in Africa and the 100th in the world.
9. Togo, Score – 62.3
For the second year consecutively, Togo is ranked among the top 10 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 has is working extremely hard to make togo one of the best Country in Africa for business. Starting a nd running a business in togo is extremely simple which is why it ranks at the 9th Position in Africa and the 97th position Globally.
8. Botswana, Score – 66.2
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 6th in Africa with a score of 65.40. For this year’s report, it scores has improved but its position has decline. Economists explain 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% to 30%). Botswana currently ranks as the 8th best African country for business and the 87th in the world.
7. Zambia, Score – 66.9
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 66.9. Zambia is also among one of the world’s top 10 economies with the most notable improvements.
The report indicates that Zambia has implemented 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 at the 85th position globally.
6. South Africa, Score – 67.0
With a score of 67.0, the 2020 report ranks South Africa 84th. This country has always been the most powerful country in Africa in