Africa's Business Renaissance: A Continent on the Rise
Africa is emerging as a hotspot for foreign investment, with foreign direct investment (FDI) reaching over $80 billion in 2023. The continent's business environment is transforming rapidly, with what once took months now taking weeks and what required endless bureaucracy now often being done digitally. Several African countries are making significant strides in improving their business environments. Rwanda ranks 38th globally for ease of doing business. Mauritius outranks France and Germany. Ghana registers companies in one day. Kenya incorporates online in under 24 hours. Across the continent, governments are establishing one-stop investment centers, offering strategic tax incentives, and creating special economic zones. Nigeria's new corporate law has simplified governance requirements, while South Africa's Investment Promotion Act provides clearer frameworks for foreign investors. African businesses themselves are proving to be sophisticated partners with deep mark...