Liberia under President George Weah with GDP $2 billion has taken the lead in ten African countries considered as the worst African countries for business in 2018.
South Africa clinched the first position on the index for best country to do business on the continental. Forbes, the American business magazine, has ranked 10 African countries as the worst business destinations in 2018.
The magazine based the ranking on innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection.
The United Kingdom was ranked as the best country for business in 2018.
In Africa, South Africa clinched the 48th and the best place on the index for best country to do business on the continental followed by Morocco on 55th position and Rwanda in a distant 79th position.
Africa’s populous nation, Nigeria, was ranked 115th, beaten by Benin Republic, Ghana, Kenya, Tunisia, Tanzania.
These are the 10 worst countries for business in Africa this year:
- Liberia
GDP: $2 billion
Population: 4.7M
Tax Burden rank: 62
Innovation rank: 118
Red Tape rank: 49
2. Democratic Republic of Congo
GDP: $39 billion
Population: 83.3M
Tax Burden rank: 147
Innovation rank: 115
Red Tape rank: 56
2. Mauritania
GDP: $5 billion
Population: 3.8M
Tax Burden rank: 145
Innovation rank: 135
Red Tape rank: 40
3 Togo
GDP: $4 billion
Tax Burden rank: 140
Innovation rank: 121
Workforce rank: 124
Red Tape rank: 39
- Zimbabwe
GDP: $16 billion
Tax Burden rank: 116
Innovation rank: 131
Workforce rank: 83
Red Tape rank: 148
- Burundi
GDP: $3.1 billion
Tax Burden rank: 112
Innovation rank: 121
Workforce rank: 124
Red Tape rank: 39
- Guinea
GDP: $8.5 billion
Tax Burden rank: 148
Innovation rank: 48
Workforce rank: 115
Red Tape rank: 106
- Libya
GDP: $20 billion
Tax Burden rank: 104
Innovation rank: NA
Workforce rank: 141
Red Tape rank: 139
- Gambia
GDP: $1.0 billion
Tax Burden rank: 136
Innovation rank: 106
Workforce rank: 138
Red Tape rank: 141
- Chad
GDP: $10 billion
Tax Burden rank: 152
Innovation rank: 128
Workforce rank: 102
Red Tape rank: 150
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