Africa’s emerging economies offer some really great opportunities for investors these days. Worldwide entrepreneurs should consider expansion in retail and distribution on the African marketplaces as both the demographics and the business environments across the continent present a huge improvement.
There are few predictions that show that Africa’s economy is expected to become very strong and promising. For example, it is predicted that 43% of the Africans across the continent will be part of the middle and upper class meaning that there is going to be a rise in the consumer market potential that will favor the business landscape. Also, experts predict a rising income level among the Africans across the continent which will lead to increasing demand for goods and services. Here are the top 3 emerging markets in Africa that will be affected by the predicted changes and will become promising business environments:
Also known as the Singapore of Africa, Rwanda is one of Africa’s top 3 emerging markets as its economy has experienced significant growth with a rate of 7.8% in 2019. One of the main benefits entrepreneurs can have in Rwanda is the fact that business registration can take only a few hours thanks to the highly organized and quickly moving bureaucracy.
One of the biggest opportunities in Rwanda lay right in the capital of the country in Kigali in the real estate industry. it seems that there is a housing shortage which means that real estate investors can really gain high returns if they invest in the housing industry in Kigali.
Zambia’s economy is one of the fastest-growing economies across the continent thanks to the fact that the government in Zambia developed incentive programs to ensure diversity in the business environment. Not to mention that new startups can benefit from a 0% corporate tax rate in their first 5 profitable years, plus partial tax reductions after that.
Zambia’s economy is also backed by reputable banking players such as Barclays, Citi, and Bank of China. Moreover, the political stability of the country is one more vital element that makes it a region worth to invest in.
For decades, Gambia’s president’s dictatorship was a very controversial topic worldwide as it was very drastic presenting oppression of journalists, a strong homophobic stigma, and a very dangerous corrupt political system. However, recently, the president was recently voted out of the office in an election that was a surprise for the presidency. So, slowly but very promising, Gambia started to become a more attractive business environment for entrepreneurs and corruption was reduced.
Gambia offers great business opportunities to new businesses in terms of tax breaks and incentives in many industries. As the country is trying to reduce its government debt, many industries are being privatized which offers great growth potential in the financial sector. The country is now ruled by a pro-business government that is doing its best to attract even more foreign investments.
These Africa’s 3 top emerging markets have all experienced economic growth. Plus, they are all designing and implementing several programs that aim to attract foreign investors.