TOP SEVEN CITIES FOR DOING BUSINESS IN AFRICA
By Ventures Africa
It’s pretty hard to miss the buzz that has been on about the African economy, with large markets and a huge consumer market-base, Africa has become one of major hub of business in the world. The African continent is deemed the world’s fastest growing with 5 to 6 percent growth rate for the several years. With a steadily growing population (it is predicted that a quarter of the population will be African in 2050), this renewed attraction to Africa is rather well-needed as it creates a two-way chain to both Africa and the companies as they are able to take advantage of the large markets available in Africa to boost their goals.
A research by hotel booking platform Jovago, revealed these top seven business destinations. They particularly stand out in their regions in terms of their strategic locations, economic sectors and peculiar cultures. Without doubt, Africa is home to great countries with abounding opportunities for business to flourish.
Nigeria’s GDP has been growing since 2012 and approaching $594.3 in 2014 and is also predicted to increase by 7.3 percent in 2015 making it the first economy in Africa. The former capital of the most populous country in Africa, Lagos is also noted to be a magnet of foreigners looking to establish business in Nigeria. The strategic location and sheer size of the population makes the hustle and bustle even more animated. If you looking for an African city to invest in or are you interested in being a part an African business revolution, well, Lagos is the place to get started. Lagos is also noted for its business centres and luxury hotels, Victoria Island which is home to a number of the Nigerian tycoons.
The economic capital of Ivory Coast is one of the largest French-speaking city in Africa and has experienced remarkable growth after a decade of political instability. The improvement of the Abidjan harbour signifies a positive growth in their economy. Abidjan is also re-hosts the
African Development Bank (AfDB) Group. It has had significant economic growth as it now ranks sixth of the twenty-three African stock exchanges and the construction of the “Third Bridge”, the Henri Konan marks a significant innovation in supporting its growing population. Ivory Coast has managed to maintain a steady increase in its GDP per capita it is also predicted to experience a 7.9 percent increase in 2015.