The number of African countries offering a highly favourable business climate grows annually. At the heart of this revolution of sorts is a series of reforms ushered in by leaders newly aware of the key importance of attracting investment to the continent.
For a sense of the pace of change, the World Bank’s Doing Business 2019 report is a useful reference. It mentions a new record set by sub-Saharan countries for the third consecutive year, namely the 107 reforms introduced last year. This is the logical continuation of the numerous improvements made since 2012 to facilitate business for SMEs. Noteworthy among these reforms, the fast-track creation of new businesses, better access to credit, better-enforced contracts, and the reduction, or sometimes outright elimination, depending on the country, of minimum capital requirements. As well, growth on the continent, pegged at 3.5% in 2018 (and 3.6% in 2017), is expected to rise to 4% in 2019 and 4.1% in 2020. These figures are indicative of constantly improving economic performances and a steady stream of business opportunities.
This dynamic of reform needs to be encouraged, for it constitutes proof positive that investors can now rely on effective protection in Africa. Moreover, the new technologies that are driving the changes underway are having a non-negligible impact on the growth we are witnessing.
A solid selection of guest speakers will address the topic during a panel discussion on Wednesday, September 4, 2019 from 9 to 11:30 a.m.