Kenya is among a few countries in the world that present possibilities for hyper-advancement in many aspects of life, the latest Forbes research has shown.
Compiled by rating only 139 nations on at least 11 factors including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance, Forbes has ranked Kenya position 105 overall but falls position 15 in Africa.
On the other hand, Chad, with a GDP growth rate of 1.8 per cent a year and not more than 800 US dollars per capita, is position 139 on the Forbes list of Best Countries for Business.
Otherwise, Sweden, New Zealand, Hong Kong, Ireland, United Kingdom, Denmark, Netherlands, Finland, Norway, and Canada feature as top 10 on the Forbes ranking.
Best countries for business in Africa
Yet Kenya, the economic and transport hub of East Africa, ranks relatively better in innovation at position 36 and investor protection at position 80.
Egypt, ranked 103rd overall, beats many countries in red tape (34th) and market performance (2nd), as Liberia, 96th on the list, ranks 33rd in red tape and tax burden (66th).
Ghana (90th overall), ranks 36th in personal freedom and 53 in property rights, as Lesotho (88th) is the 47th in trade freedom and 59th in corruption.
Tunisia (87th), is position 39 in market performance and 42 in personal freedom, while Zambia (86th overall) holds position 51 in tax burden and 66 in innovation.
Senegal (81) is position 42 in personal freedom and 50 in innovation, while Rwanda (78) occupies position 33 in property rights and 47 in innovation.
Cape Verde (70) is position 1 in personal freedom, 14 in monetary freedom, as Botswana (68 overall) occupies position 28 in corruption and 44 in property rights.
Namibia (63 overall) ranks 5th in market performance and 55th in trade freedom, while Morocco (51 overall) ranks 21st in monetary freedom, as South Africa (48) boasts position 22 in investor protection and 30 in property rights.
But Mauritius(39th on Forbes list), boasts position 4 in trade freedom, and 34 in guaranteeing property rights–and happens to be the best country for business in Africa.
BY MOSES OMUSOLO