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Which Are Africa’s Most Tradable Countries? The Answer May Surprise You
By Joel Popoola
Here’s an exploration of the best places in Africa to do business, and they are not necessarily the first countries you might think of.
When we talk about the best places in Africa to do business, all too often we focus exclusively on the continent’s most established economies – South Africa, Nigeria, Egypt and Kenya. And as a proud Nigerian I am as guilty as that as anyone!
Which is why new research into the most tradable countries in Africa is quite so interesting – some of the best places in the continent to do business are not necessarily the ones you’re thinking of.
The latest African Trade Barometer, produced by Standard Bank – one of Africa’s biggest – suggests that British businesses should in fact be taking a closer look at Tanzania, Uganda, Zambia and even Angola.
The survey ranks nations on economic stability, governance, infrastructure and trade openness – using both quantitative data and a comprehensive survey of businesses of all sizes from across Africa.
Result show Namibia, Uganda and Angola competing with more established economies such as Ghana and South Africa when it comes to tradability, with Tanzania praised for its government support for trading activities – based around President Hassan’s efforts to engage world leaders and develop its international relations – Uganda for its export and import prospects, and Angola for its infrastructure and ease of trade with foreign markets. Angola’s booming chemicals and processing sector in particular seems to be taking advantage of global trading constraints.
Zambia is rated highly for its improved economic stability, no doubt the impact of a relatively new government’s approach to the economy – which has lead to 80% of businesses expecting their turnover to increase in the next year.
As a long-term believer in the link between good governance and business confidence and growth – and has developed the digital technology to improve the transparency and accountability of elected officials in Nigerian – it is gratifying to see successful elections in Kenya, Angola and Zambia, and the change of president in Tanzania, have lead to improved business attitudes throughout these nations and their neighbours.
British businesses need to start thinking more about Africa – especially if they want to take advantage of the coming African Continental Free Trade Area. This will make Africa the largest free trade area in the world, a single market of over a billion consumers and a combined GDP of over US$3 trillion – although there is no shame about British businesses being in the dark about the agreement, the figures show that only 3% of Mozambique businesses are!
Even where tradability is less strong, there are opportunities for British business – power outages remain a severe infrastructural obstacle to trade – particularly in Nigeria, South Africa and Mozambique. But that means opportunities for British businesses to tackle these issues here and across the continent.
The results also show African businesses seeking to import fewer goods directly from China with the greatest decrease occurring in Angola, Mozambique and Namibia.
This is undoubtedly the result of China’s Zero Covid policy with which has seen ports and businesses shut down to stop the spread of the virus – leaving African traders looking elsewhere to avoid supply chain interruptions. Why not Britain?
The figures are not all good for Africa. The figures indicate that interest rate rises in the United States have increased borrowing across many African markets, negatively impacting business confidence – particularly in Ghana where a combination of inflation and poor liquidity has adversely impacted the country’s ability to import.
Nonetheless British businesses need to open their eyes to the potential of Africa – and look beyond the usual suspects.
The UK government has negotiated a number of free trade agreements with African countries and trading blocs since it left the European Union creating significant opportunities for African consumers and companies, not least in our 24 English speaking countries – and the International Monetary Fund has predicted that over the next five years, half of the world’s ten fastest growing economies will be in Africa.
Joel is a software entrepreneur, and Chief Executive of political engagement app Rate Your Leader.
Impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has described the corruption allegations against him as “fictitious and unsubstantiated”.
Speaking during a welcome rally at his residence in GRA, Ikeja on Saturday, Obasa maintained that he was not afraid of being impeached but emphasised that due process was not followed.
The former Speaker alleged that his removal was orchestrated while he was away, and accused the state commissioner of police of aiding the process.
He claimed security agents, led by the police commissioner, invaded the assembly complex and his homes in Agege and Ikeja, locking his family indoors with over 200 officers present.
Obasa dismissed allegations of misappropriation.
He mocked claims that a gate construction had cost N16 billion, saying, “Is it the wall of Jericho?”
He said: “I am not afraid of being removed, after all, it is not my father’s chieftaincy title. I am representing my people and they have returned me six times. If you want to do anything, do it well.
“They did the removal all because I was out of the country. Lagos is a special place, we cannot denigrate the state.
The former Speaker cited the case of the former speaker, Rt. Hon Jokotola Pelumi.
He said when Pelumi was removed, he was in the assembly and “we did not invite policemen.
“When my sister, former deputy speaker of the House, Hon. Adefunmilayo Tejuosho was removed, we did not invite the police.”
Obasa said an innocent person should not be discredited, and there must be proof of allegations showing exactly what he has done.
“The Lagos State House of Assembly is above common standard of excellence.
“I appreciate the members of the governance advisory council and Governor Babajide Olusola Aanwo-Olu of the state. He is my brother and he always calls me his younger brother.”
Obasa was impeached on January 13 by more than two-thirds of the 40-member legislative house over alleged misconduct and sundry offences.
His Deputy, Mojisola Meranda, was immediately elected the new speaker, becoming the first female to take charge of the legislative body in the State.
The Federal Airports Authority of Nigeria (FAAN) has confirmed that 38 persons, including seven crew members, were injured when a United Airlines plane made an emergency landing in Lagos on Friday morning.
The Boeing 787-8 flight with 245 passengers was en route to Washington Dulles International Airport (IAD), in the United States, from the Murtala Mohammed International Airport, Lagos, when it developed problems midair and was forced to return to the airport.
There were also 11 crew members – eight attendants and three pilots – on the plane.
The FAAN Director of Public Affairs and Consumer Protection, Obiageli Orah, who confirmed the incident through a statement, said all passengers and crew disembarked safely.
She, however, said four passengers and two crew members sustained serious injuries.
According to her, 27 passengers and five crew members had minor injuries.
The statement read: “The United Airlines Boeing 787-800 departed Murtala Muhammed International Airport (MMIA), Ikeja, at 11:59pm on Thursday, but made air return and landed safely at 3.22am on Friday.
“On board were 245 adults and 11 crew members.
“The team of Aerodrome Rescue and Fire Fighting Services, Aviation Medical, and Aviation Security were already at the gate when the aeroplane parked for deboarding at D31 without incident, and the door was opened at 3:37am.
“While all passengers and crew disembarked safely, four passengers and two crew members sustained serious injuries, and an additional 27 passengers and five crew members had minor injuries.
“The rescue team responded swiftly and effectively, having been on alert and standby.
“Aviation medical ambulances transported the injured passengers, some to the MMA Clinic and others to the headquarters clinic.”
By Henry Ukazu
Dear Destiny Friends,
There’s no doubt that human beings by nature are insatiable. When we get one opportunity, we always look for another. When we attain one height, we always look for another accomplishment. Isn’t it true that the end of one mountain is the beginning of another.
However, I don’t think it’s selfish for anyone to dare to succeed.
Being ambitious doesn’t make one an opportunist or disloyal. It all depends on one’s perception or outlook to life. It’s just natural for one to dream big. It’s only ugly when the process one chooses to achieve his desires becomes dirty and nasty.
According to a former Nigerian presidential candidate and seasoned Economist, Mr. Peter Obi, “if you must be referred to as “Your Excellency”, then the process through which you arrived in office must be excellent”.
If you desire to be reckoned with on the journey of existence, you must be legitimately hungry for success. One’s hunger for success will facilitate the drive to accomplish great tasks despite daunting obstacles posing as challenges.
When one has this mindset, one will not be bothered by the noise which serves as obstacles and challenges along the way. Negative and weak minds are always concerned on why something won’t work. They tend to focus their energy and reasons on the obstacles facing them. But great and productive minds always focus their energy on the reasons why it will work. This is the spirit of an insatiable mind who is a goal- getter.
It’s instructive to note that we can’t please everyone. According to Bill Cosby, a famous actor, “I don’t know the key to success, but the key to failure is trying to please everyone.” Isn’t it true that when you talk, people will still talk about you, when you don’t talk, people will talk about you, so whether you talk or not, people will still judge you, so, do what’s best for you. There’s nothing you can do to please human beings. Your best option is to live your best life.
To understand how the insatiable nature of man works, one must be oneself. You don’t have to “please” anyone. Be yourself, and don’t try to be like anyone just to curry favour. It’s important to note that when you are yourself, the people that matter will come through for you, and the people that don’t matter will gradually find the bearing in another space because those that truly care don’t bother and those that bother don’t really matter in the grand scheme of things.
Life has truly taught me to focus on the important things of life as opposed to the mundane things. It’s truly sad to see people spending more time on the little things of life, and spending little time on the important things of life. That’s just a misplaced priority.
When you are yourself, the best people can do is to copy or imitate your style. They can never imitate your creativity nor can take your originality from you.
We live in a world or society where people don’t generally care or show empathy. Most people tend to live around themselves, their family, and close associates. They generally find it hard to lift a finger to assist others for reasons best known to them. Rev. Fr. Ejike Mbaka once said, “we live in a wicked generation”, re-echoing the voices of a lot of people of the world. Some people in authority just have criminal expertise in amassing wealth of opportunities meant for the citizens without thinking of the citizens they are meant to serve.
It’s worthy of note that not everyone will like you nor support your work, but when you find people who truly care about you; please hold them tight. This is because despite having family members you have shown love and compassion, they might not still appreciate you even if you lay your life for them, they will still find something to say. Again, this is the insatiable nature of man.
It’s okay for everyone not to like you, normalize living your life for God, yourself, family and those that care about you. If everyone likes you, you have a problem.
Did you know that you can get a new family from friends, strangers, and acquaintances? These sets of people might appreciate you more than your own family members. They might not demand or under appreciate you like your family members and close friends or associates. Any little support you give them will be highly appreciated. Their focus is to see you do better.
In conclusion, as you desire to succeed in life, never give in to failure until you have made your last attempt, and never make your last attempt until you succeed. This literally means whatever you desire, dream it, think it, say it, and believe you can achieve it. This principle is generally applicable to relationships, businesses, family, personal and professional development.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design Your and Unleash Your Destiny . He can be reached via info@gloemi.com
