Top 10 African Countries in World Bank’s Best Business Climate Report 2024

The World Bank says the new report, which replaces and improves upon the earlier published Doing Business project is the bank’s new strategy to facilitate private investment, generate employment, and improve productivity to help economies fast-track development in inclusive and sustainable ways.

Over 100 economies are expected to be reached and covered in the second report which will be released in September 2025, while the third report, expected in September 2026, will assess about 180 economies.

B-READY assessed the attractiveness of countries in the report by examining their business climates under three pillars: regulatory frameworks, quality of public services, and operational efficiency.

FDI growth in Africa

African countries showed great improvement in all the assessment pillars with Rwanda coming tops in the global ranking.

Globally, the country was placed in 17th position in the regulatory frame work category with 70.35 points. In the Public services category, it placed 8th globally with 67.37 points and came 3rd in the operational efficiency category with 81.31 points.

This improvement shows how much input African countries have made in developing their economic climates and enabling policies that encourage business growth and the flow of foreign investment.

The list below shows how African countries performed under each heading.

A summary of the assessment shows that, in terms of regulation, Rwanda ranked first in Africa with 70.35 points, followed closely by Togo in second place with 69.03 points. Morocco, Côte d’Ivoire, and Ghana trailed behind, securing third, fourth, and fifth positions respectively, with 68.92, 68.16, and 66.91 points

For the quality of public services, the top five African countries are Rwanda (67.37 points), Morocco (58.66 points), Mauritius (56.28 points), Tanzania (49.58 points) and Togo (49.58 points).

Rwanda also clinched the top spot for operational efficiency with 81.31 points ahead of Mauritius (69.79), Botswana (67.73 points), Lesotho (66.06 points) and Togo (64.36 points).

Source:norvanreports.com