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Top 10 Safest African Countries to Do Business in 2023

Africa over the last few years has become a haven for foreign investments, as businesses from across the globe are becoming highly aware of the potential for rapid capitalization that locals have been conversant with for decades.

The continent’s willingness to adapt to the latest technological advancements, young demographic, vast natural resources, and evolving economic policies all make for a conducive and profitable business ecosystem, the likes of which have earned Africa the title of the fastest-growing economy.

Africa is endowed with a vast array of untapped opportunities, albeit under some of the world’s most complex and delicate socio-economic conditions.

Africa’s unstable political climate can sometimes make doing business a hassle, however, this narrative is geared towards only a few African countries and not the entire pack, as some regions on the continent still boast some of the friendliest business ecosystems in the world.

As Africa’s economic influence continues to expand, so do its financial policies, which of course are instituted to allure foreign and domestic investors. A report by Oxford Economics Africa, an independent economic advisory firm, highlights the aforementioned point in its 2023 “The Africa Risk-Reward Index” report.

The report examines the profits and pitfalls of polarization in each African country, African-led security interventions, and how African countries are financing for the future. By accessing these three factors, the research can deduce the countries with the highest risk-to-rewards ratio when it comes to conduciveness for establishing foreign businesses.

This list is the inverse of an earlier published list of the top 10 riskiest African countries to do business in 2023, in the sense that the countries with the lowest risk index in The Africa Risk-Reward Index” are listed here as the safest African countries to do business in.

With that said, below is the list of the top 10 African safest countries to do business in 2023.

RankCountryRisk index
6.South Africa5.06
10.Côte d’Ivoire5.56

Source : Business Africa Insider