Africa on the "Best Countries for Business" Map

African nations make up 60 percent of the bottom 10 in the 2014 Forbes’ annual ranking of the Best Countries for Business, but it's not all bad news for Sierra Leone. In this week's publication, Kurt Badenhausen reports that high levels of corruption, red tape and taxes registering are major issues in Africa. Guinea brought up the rear at 146 and Sierra Leone stands at 114.

In his first state of the nation address since the Ebola outbreak this May, President Koroma remarked on the nation's change in fortune at the State Opening of Parliament in Freetown on December 5.

"This time last year, Sierra Leone won high praise and acclamation around the world as a country transforming itself into a model of post war recovery, a country registering sterling economic growth, a country improving its scores on most indices of governance, peace, investor confidence and democracy," said President Koroma in his state of the nation address. "This time last year, thousands of our compatriots from the diaspora were trooping to this nation of their birth, most of them confident that the country was opening up to its great potentials. There were many challenges, but the country was moving on with a zeal that never tires to assert the better aspirations of our people," the president said.

Sierra Leone has developed a post Ebola Recovery Plan.

According to Badenhausen, Forbes’ ranking of the Best Countries for Business grades countries on 11 different metrics, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. All economic data for 2013. Market performance based on country’s major stock index returns for 12 months through December 4 are sourced  from the Heritage Foundation; World Economic Forum; Transparency International; Freedom House; World Bank; Central Intelligence Agency; Property Rights Alliance, the article states.

Europe dominates the top 25 with more than 70 percent of the entries. These countries score well almost across board on trade and personal freedom, as well as innovation and corruption. The Asia-Pacific region landed five locales on the list with the U.S. and Canada making up the final components of the top 25. The U.S. ranks No. 18 this year, down four spots from 2013. It is the fifth straight year of declines for the world’s largest economy.

Below is an extracted list of African countries as they appear on "The Best And Worst Countries For Business 2014:


Mauritius 34
South Africa 43
Botswana 69
Namibia 72
Rwanda 74
Cape Verde 76
Morocco 79
Seychelles 80
Ghana 81
Senegal 83
Tunisia 87
Madagascar 92
Kenya 98
Mozambique 99
Lesotho 102
Cote d'Ivoire 104
Egypt 108
Swaziland 109
Benin 112
Sierra Leone 114
Burkina Faso 115
Tanzania 116
Mali 119
Uganada 122
Burundi 124
Nigeria 126
Malawi 127
Gabon 131
Cameroon 133
Zimbabwe 134
Mauritania 135
Ethiopia 136
Algeria 137
Gambia 138
Angola 141
Libya 144
Chad 145
Guinea 146

Source: Best Countries for Business 


 Sierra Leone is still a "Business Bomba"

Sierra Leone's Business Bomba National Business Plan Competition aims to identify talented entrepreneurs with innovative business ideas which they could use to expand existing businesses or establish new businesses designed to create employment and alleviate poverty. The agri-business sector is a key focus area for the competition. For more information visit Businessbomba.com

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