10 African countries that are business-friendly

Date: 10 September 2025 4:00pm WAT

NIGERIA-UKRAINE-RUSSIA-CONFLICT-AFRICA-ECONOMY

A fuel tanker, buses and haulage trucks, mostly consumers of diesel, selling at high prices, drives on highway in Lagos, Nigeria's commercial capital on March 14, 2022. - From Nigerian airlines to Malawi bakers, African countries are feeling the pain of Ukraine's crisis as supply disruptions hike inflation and oil prices push up fuel costs. Global oil prices touched ten-year highs of more than $100 a barrel soon after Russia invaded Ukraine, doubling diesel prices for African countries like Nigeria. Ukraine and Russia are both major suppliers of wheat and grains to Africa and Western sanctions and disruptions are already hiking costs across the continent. (Photo by PIUS UTOMI EKPEI / AFP)

New data shows that Africa’s most business-friendly countries have ranked Nigeria ninth on the list of countries it surveyed.

The ranking by Statisense in partnership with The Africa Report lists Libya, Côte d’Ivoire and the Democratic Republic of Congo (DRC) as the top three destinations for wealth creation and business expansion in 2025.

Libya leads the list, supported by vast oil reserves, economic reforms and a stabilising political climate. The country’s GDP is forecast to grow by 6.2 per cent in 2025, driven by increased oil output and a more predictable investment environment.

Côte d’Ivoire follows closely, with growth of 6.4 per cent projected, underpinned by cocoa exports, oil production and a national development plan that emphasises industrialisation and digital transformation. The DRC, with 70 per cent of the world’s cobalt reserves, takes third place, as foreign investors flock to its mining and energy sectors despite ongoing infrastructure challenges.

Tanzania ranks fourth, buoyed by infrastructure investment and tourism, while Egypt, Africa’s second-largest economy, is fifth, benefiting from its strategic location around the Suez Canal and growth in renewable energy and logistics. Kenya holds sixth place as a regional technology leader, with its fintech sector spearheaded by M-Pesa, while Benin in seventh reflects its rising trade profile through port expansion and agricultural reform.

Algeria sits eighth, largely reliant on hydrocarbons but pushing into renewables, and Nigeria, the continent’s largest economy, comes ninth, with opportunities in oil, agriculture and fintech. Ethiopia completes the top 10, with manufacturing and agriculture driving its expansion.

The report highlights that Africa’s GDP is forecast to rise by 3.5 per cent in 2025, with foreign direct investment inflows projected at over $50 billion. Analysts say the continent’s growing middle class and ongoing reforms to improve ease of doing business will continue to attract international capital.

Uganda and Morocco, ranked just outside the top 10, are also flagged as rising contenders thanks to new oil projects and renewable energy initiatives.

Top ten list here:

1 Libya