The World Bank has released its new data collection and analysis initiative, The Business Ready 2024 report (B-READY), which evaluates the business and investment climate worldwide. This report is the first in a series covering 50 economies from 2024 to 2026.
According to the World Bank, this report supersedes and enhances the previously published ‘Doing Business’ project. It forms part of the bank’s new strategy aimed at facilitating private investment, generating employment, and improving productivity, all to help economies accelerate development in an inclusive and sustainable manner. The second report is expected to encompass over 100 economies and will be published in September 2025, while the third report, slated for September 2026, aims to assess around 180 economies.
B-READY evaluates the attractiveness of countries by examining their business climates under three key pillars: regulatory frameworks, quality of public services, and operational efficiency.
African nations demonstrated significant advancements across all assessment pillars, with Rwanda achieving the highest global ranking. It placed 17th worldwide in the regulatory framework category with 70.35 points, secured 8th position in public services with 67.37 points, and ranked 3rd in operational efficiency with 81.31 points.
These results reflect the substantial efforts African countries have made to improve their economic environments and implement policies that foster business growth and attract foreign investment.
The list below shows how African countries performed under each heading.
The assessment summary reveals how various African countries performed:
- Regulation: Rwanda led Africa with 70.35 points, followed closely by Togo in second place with 69.03 points. Morocco, Côte d’Ivoire, and Ghana rounded out the top five, earning 68.92, 68.16, and 66.91 points, respectively.
- Quality of Public Services: The top five African countries in this category were Rwanda (67.37 points), Morocco (58.66 points), Mauritius (56.28 points), Tanzania (49.58 points), and Togo (49.58 points).
- Operational Efficiency: Rwanda also took the lead with 81.31 points, followed by Mauritius (69.79 points), Botswana (67.73 points), Lesotho (66.06 points), and Togo (64.36 points).
These results not only highlight the progress made by African nations in creating conducive business environments but also pave the way for a more optimistic future for business in Africa.