The Opportunities to Migrate to Africa
Africa has become the new frontier for alternative business and investment opportunities. There are opportunities in different sectors with significant returns on investment not found anywhere in the world.
The real estate market is experiencing rapid growth. This is due to several factors, notably the projected population increases across the continent and the desire for better living standards.
Many foreigners are flocking to Africa, drawn by a new emerging market and a growing economy wave sweeping across the continent. For those looking for new investment opportunities, Africa is the new frontier.
We Picked 7 Countries that are Attracting Significant Foreign Investments and Migrations;
Ghana
Over the past 10 years, there have been significant changes in Ghana’s business environment. These have made it more stable and attractive for foreign investors.
The country experiences higher GDP growth than most other nations in West Africa and sub-Saharan Africa, and has established a stable political environment.
The World Bank ranks Ghana as one of the easiest countries in Africa to do business with. It ranks 31 out of 190 global economies on its “Doing Business” index.
Ghana’s policy of visa-free entry for people of African descent has led to increased foreign direct investment (FDI). They are allowed to stay in Ghana for an unrestricted amount of time if approved by the Ghana Immigration Service.
The connection between African Americans and Ghana is not new. The country’s “Year of Return” initiative seeks to expand the relationship between Ghana and Black Americans further. This has seen a rise in the migration of African Americans to Ghana, bringing in investments, and contributing to overall economic growth.
The booming real estate sector encourages foreigners to own land freely. Rental yields are among the highest regionally.
Rwanda
Also known as the cleanest and safest country in Africa, Rwanda is an intriguing destination for foreign investors.
The country’s rapid development and economic growth is among the fastest in Africa. This has been boosted by good governance, innovations in the different sectors of the economy and political stability.
Named as one of the world’s biggest business reformers, Rwanda is home to unique business opportunities. It now takes 24hrs for one to register a business and acquire a trading license in Rwanda.
There’s various sectors that provide investment opportunities, according to the Rwanda Development Board, the nations investment body. Many attractive incentives have been put in place to attract foreign investments.
Mauritius
Mauritius is a primary investment destination for those looking for investment opportunities.
The real estate, fishing, manufacturing and agriculture industries are all attractive areas for investment. Mauritius is blessed with all-year-round tropical weather, beautiful beaches and landscapes. This natural asset is a major tourist attraction.
As the country’s real estate market is not yet fully developed, this is one area of significant investment value. There are also opportunities for investors to take advantage of the country’s growing financial services sector.
Mauritian educational systems are ranked highly worldwide. This offers another opportunity for investors who want a foothold in a burgeoning nation.
South Africa
South Africa is the most developed economy in Africa with significant development in energy, natural resources, infrastructure, real estate etc. It is home to some of the world’s top universities, which makes its workforce extremely valuable.
The southernmost nation is also known for its developed mining industry. The largest diamond mining company, De Beers Group is located in South Africa.
Some of the most beautiful coastal landscapes in the world are in South Africa. Cape Town is an amazing place for those looking to relocate and settle.
The international business community is keenly aware of South Africa’s potential. Foreign investors are flocking to South Africa in droves to take advantage of this opportunity.
Morocco
Morocco is an attractive destination because of its relatively stable political climate in comparison to other African countries. It has a beautiful climate all year round and amazing sceneries of the Atlas mountain range.
Foreigners are also at ease in Morocco because of the Moroccan culture, and proximity to Europe. The country has great value in its education system, which produces graduates who are qualified to work abroad.
However, many foreigners are still hesitant about visiting or investing in Morocco due to the language barrier and issues with transportation. However, there are opportunities to communicate with people locally through Google translate or English speaking government offices. The majority of people speak French there too, as a second language.
Seychelles
Seychelles offers a number of investment opportunities for foreigners, including construction, development and other tourism-related investments. The return on investment in Seychelles is higher than in many other countries.
Seychelles has also liberalized its policies for obtaining citizenship, making it available to foreigners under certain circumstances.
The country offers “citizenship by investment”. This allows potential international investors to become citizens of Seychelles fast and without residency requirements. This can be achieved through the acquisition of real estate or investment in a local business.
Botswana
Botswana is one of the fastest growing economies in the world, with a stable democracy and political stability, since achieving independence in 1966 . The nation is rich in natural resources, and is arguably the biggest producer of diamonds in the world in terms of value. It is a market-oriented economy, and has one of Africa’s highest sovereign credit ratings.
Due to it’s good governance and positive government policies, Botswana is ranked the least corrupt nation in Africa. It’s economic and business scores are well above the region and world averages.
The nation has a well functioning capital market, boosted by a vibrant financial sector.
With all the positive factors regarding this southern Africa nation, Botswana is one place to surely consider, for investments on the continent.
Uganda
Nicknamed the Pearl of Africa, Uganda is renowned for its pleasantly warm tropical climate. It is the least expensive place to live in the region. The Ugandan shilling has almost doubled in value over the past 10 years, increasing purchasing power.
Income from tourism is a major contributor to Uganda’s GDP. The Uganda Tourism Board reports that over 3 million people visit the country annually. This generates approximately $250 million in foreign exchange earnings. In total, tourism provides approximately 10% of Uganda’s GDP and employs about 200,000 Ugandans.
Uganda’s government has encouraged investment in the country by enacting policies designed to remove major barriers inhibiting foreign investment. Foreign investments can now be made in new and established industries. Sectors like the manufacturing industry, agriculture industry, tourism industry are areas of investment interest.
There are also incentives for companies that produce goods for export. Such incentives include reduced rates on customs duties and imports of capital equipment for such industries.
Final Thought
As seen in the article, the opportunities abound for those looking to migrate to Africa, or simply seeking African investment opportunities.
Business in Africa is booming in different sectors. Real estate in Africa is just one of those attractive sectors for investment. Buying property in Africa has never been easier. The industry is ripe for investment.
The tourism industry is bouncing back from the effects of the 2020 pandemic. This is a major source of foreign revenue for many nations in Africa. As a result, countries like Rwanda have reopened in line with strict COVID-19 prevention measures.
Intraregional associations are now being formed to enhance trade and investments, cross border trade and improved business relations.
Africa has unique opportunities for those seeking new investment ideas or places to migrate and raise their families. Those already invested in Africa are reaping the benefits and returns uncommon elsewhere.
With the motherland open for business and relocation options, this may just be what you’re looking for!
