Africa...a world of opportunity
The purpose of the survey is to continue building a greater understanding of the landscape of incentives offered by African countries, both to local and foreign investors. According to the Overseas Private Investment Corporation (OPIC) and United Nations Conference on Trade and Development (UNCTAD), Africa offers the highest return on foreign direct investment in the world – an opportunity afforded to businesses that cannot be ignored.
Based on the 2017 IMF Data Mapper, there has been a 4.5% change in the Real GDP growth rate for emerging markets and developing economies, with African countries having some of the world’s fastest growing economies. This is evidenced in the 2017 African Economic Outlook, with East Africa having the fastest growing region in 2016 at 5.3% real GDP growth, followed by North Africa at 3%. Africa’s GDP growth prediction for 2018 is currently at 4.3%.
The continent has seen great improvements, for example the average number of days needed to start a business dropped from 37 to 27 in five years. In its The Global Competitiveness 2017–2018 Report, the World Economic Forum sited Mauritius as the top-performing African country, ranking 45 out of 137 total countries.
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