African countries are known for their startup ecosystems. A new report compiled by the CEOWORLD magazine has found the best African countries for entrepreneurs in 2022. The Entrepreneurship Index has evaluated a total of 100 economies. Let’s talk about the top 5 African countries for entrepreneurs in 2022.
Top 5 African countries for entrepreneurs
According to the report, South Africa tops the local ranking for the best African countries for entrepreneurs. South Africa has a highly-skilled workforce, competitiveness and openness to business. Cape Town and Johannesburg are the best cities for business in the country. South Africa is also the first country in the African continent to reach the global top 50 list of the most developed startup ecosystems.
Rwanda is the second-best country for entrepreneurs in 2022. The country also has one of the most developed startup ecosystems. It is one of the world’s fastest-growing economies. Business registration also takes a very short time at the Rwanda Development Board.
With political stability, a flourishing economy, a well-developed business environment and openness to foreign investment, Morocco is the third-best country for entrepreneurs in 2022. Expatriates in Morocco can create any type of company.
Kenya is one of the best countries for entrepreneurs. Nairobi, Kenya’s capital, is popular globally for Food Tech, Transportation, Technology, and Energy businesses. Kenya is also the second most developed startup ecosystem in Africa.
Nigeria is the highest-ranking country in Western Africa for entrepreneurs. Lagos, the largest city in Nigeria, is famous for its E-commerce business. It is one of the most improved economies in the world for running a business. The country is also supportive of private entrepreneurship and public-private partnerships.
These are the five best countries for Entrepreneurs in 2022. What do you think about these countries? Share your answer in the comment section below.