The World Bank has launched its new Business Ready 2024 (B-READY) report, evaluating the business and investment environments across 50 global economies. The report, a successor to the Doing Business initiative, is the first of three volumes to be released between 2024 and 2026.
The aim of B-READY is to enhance private investment, boost employment, and increase productivity in economies worldwide, supporting sustainable and inclusive growth. African nations showed significant improvements in business climates, with Rwanda emerging as a regional leader.
Rwanda claimed the top spot across all three key areas of assessment: Regulatory Frameworks, Quality of Public Services, and Operational Efficiency. Globally, Rwanda ranked 17th for regulatory frameworks, with 70.35 points, 8th for public services (67.37 points), and an impressive 3rd for operational efficiency, achieving 81.31 points.
The first report will be followed by a second in 2025, extending the coverage to 100 economies, while the final edition, expected in 2026, will assess approximately 180 economies.
Across Africa, several other countries ranked highly. In terms of regulatory frameworks, Togo secured second place, followed by Morocco, Cote d’Ivoire, and Ghana. For quality public services, Rwanda, Morocco, and Mauritius led the pack, with Tanzania and Togo also performing well. In operational efficiency, Mauritius, Botswana, and Lesotho followed Rwanda in the top positions.
This progress highlights African nations’ commitment to enhancing their business environments and attracting foreign direct investment. Rwanda’s success in all areas showcases the effectiveness of its economic reforms and pro-business policies.
Top 10 African countries for business climate in 2024
- Rwanda
- Togo
- Morocco
- Côte d’Ivoire
- Ghana
- Botswana
- Tanzania
- Mauritius
- Chad
- Central African Republic
Credit: Africabriefing
