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As the economy begins to bounce
back, more investors are on the look-out for exciting opportunities around the
globe. Some may be heading to new territory. With a reputation for political
instability, many countries in Africa have not seen the type of investment one
might expect for the second-fastest growing economy in the world. Even in the
midst of a global economic crisis, growth in Africa continued, bolstered by
rich natural resources and a rising consumer class. Several countries stand out
as prime markets for investors.
(These countries were ranked by the
World Economic Forum’s Global Competitiveness Report 2012-2013)
1. South Africa
Despite a troubled recent history,
South Africa has quickly become a model of stability in Africa and an important
voice on the world stage. It ranks second in the world for
accountability of private institutions and third for financial market
development, showing trust in its markets at a time when trust is hard to find.
With a rapidly growing tourism industry, a wealth of natural resources and
booming industrial production, South Africa presents a unique opportunity hard
for some investors to pass up.
2. Mauritius
Little-known Mauritius offers a
strong infrastructure for foreign investors – particularly in the areas of
ports, air transport, and phone communication. Coupled with strong and
transparent public institutions, clear property rights and an efficient
government that enjoys an independent judiciary (a rare find on the continent),
Mauritius has high standards for investor protection.
3. Rwanda
The Rwandan government’s
no-tolerance policy when it comes to corruption makes the country a strong
contender for investment. High-functioning institutions and security
infrastructure contribute to the package. Additionally, Rwanda is well known
for innovation and efficiency, and has well-developed financial and labor
markets compared to the rest of the continent.
4. Morocco
Morocco has actively tried to
attract investors with financial incentives and tax exemptions, even
simplifying procedures to make the process as hassle-free as possible. With a
large tourist industry and growing real estate market, the country has become a
very attractive option for investors worldwide
5. Seychelles
A stable government and
investor-friendly policies help make Seychelles a prime investment opportunity.
In addition to its ideal geographic location midway between Asia and Europe,
the Seychelles time zone overlaps working hours with major financial
centers across the globe – so no need to schedule those 3 a.m. conference
calls.
6. Botswana
Botswana’s thriving domestic
financial market, including banks, insurance companies and a growing stock
market, manages to be immensely competitive while still following stringent
international standards to combat money laundering and financial crime. This
commitment to transparency transcends into the country’s governance style,
which includes low levels of corruption and high political stability.
7. Namibia
Often called Africa’s optimist,
Namibia offers a peaceful and politically stable environment for those hoping
to get a piece of its moderate but steady economic growth. An impressive
diamond production industry, rich fishing grounds and an excellent transport
and communication base make it likely for Namibia’s growth to continue in the
coming years
8. The Gambia
The Gambia’s free market economy is
free of foreign exchange controls and offers quick and easy investment approval
procedures. The country maintains a commitment to protecting intellectual
property rights, and even offers incentive packages for investors such as the Special
Investment Certificate and Free Zones License
9. Gabon
Investors looking at Gabon have the
freedom to choose from a wide selection of legal business structures and are
not limited by state restrictions on foreign investment. Large quantities of
petroleum, manganese and timber are exported each year. Also, Gabon encourages
nationally diverse sources to take a sizable stake in its industries.
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