The state of affairs in the economy of the countries participating in the Catalogue, market reviews, attractive niches for business, opinions of industry experts.
Anton Korinets, who has been working on the continent for four years, told Free Press about the features of local business.
Nigeria is great for both first-time business owners and seasoned professionals in their industries. Nigeria's population is growing at 3% per year, making it one of the countries with the potential to become the largest economy in Africa.
Nigeria is a mixed, middle-income, emerging market economy characterized by expanding manufacturing, agriculture, oil and gas, and solid minerals sectors. Other dynamic sectors of the state's economy include communications, information technology, tourism, services and much more.
Western countries have imposed serious economic and political sanctions against Russia, which has significantly complicated the work of domestic businesses with Western partners. Therefore, today more and more Russian companies are looking for new opportunities and relying on the development of business cooperation with the countries of Asia and Africa.
Together with an expert, we figure out why Africa is a promising market and what prevents Russian companies from operating on the continent.
The African region is currently one of the most promising in terms of development potential and economic growth. Five African countries entered the top 10 fastest-growing economies in the world in 2023. Investors in the African region have a wide range of promising sectors to choose from. Despite the challenges, growth rates across all regions of Africa remained positive last year and will remain stable over the next two years.
According to Mikael Gorsky, founder of the business development agency Explore Ethiopia (Addis Ababa, Ethiopia), which registers and supports businesses in Ethiopia, conducts market research and audits of potential partners, Africa is the most promising region on the planet.
The Democratic Republic of Congo is a key player on the African continent. It has one of the highest growth rates in the sub-Saharan region. Thanks to its natural resources and demographic potential, the DRC has undeniable economic advantages.
Experts predict that by 2025, expected consumer and business spending on the African continent will be more than $5.6 billion, and the population will be 1.2 billion, doubling by 2050. Therefore, Africa is the future of the world economy. One of the most developed and promising countries in this region is Tanzania.
Special economic zones (SEZs) have been successfully used as an industrial policy tool in many countries. Efforts to create SEZs in Tanzania began in 2002 and were boosted by the creation of the Export Processing Zones Authority (EPZA) in 2006.
Kenya boasts a fast-growing and dynamic economy that continually attracts the attention of global investors. The country is one of the region's major economic centers and has made significant progress in recent years, attracting international interest as a new investment destination.
Kenya is the economic, financial and transport hub of East Africa. Kenya's economy provides numerous investment opportunities for business, demonstrating dynamic growth and sustainability.