September 12, 2018—Forbes, the US-based international media company, last week published its latest ‘Best Countries for Business Index’ ranking Uganda 105 out of 153 with the United Kingdom topping the list and Chad at the tail end.
According to the index, the first 10 countries in Africa are Mauritius (41); South Africa (48); Morocco (55); Botswana (76); Rwanda (79); Seychelles (82); Ghana (85); Namibia (86); Senegal (89) and Cape Verde (90).
Kenya came in at 91 while Tanzania was ranked 114 and Nigeria at 118. Ethiopia, Africa’s fastest growing economy was ranked at 138.
Forbes staffer, Kurt Badenhausen said “We determined the Best Countries for Business by rating 153 nations on 15 different factors: property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom (personal, trade and monetary), red tape and investor protection. Each category was equally weighted.”
He said Forbes has been rating the business friendliness of the world’s biggest economies annually for the past 12 years. He said, “The United Kingdom gets the top rank this year for the first time, up from fifth last year.”
The UK is followed by New Zealand, The Netherlands, Sweden, Canada, Hong Kong, Denmark, Ireland, Singapore and Switzerland.