One of the world's poorest and smallest economies, the Comoros is made up of three islands that are hampered by inadequate transportation links, a young and rapidly increasing population, and few natural resources. Agriculture accounts for about 50% of GDP, employs a majority of the labor force, and provides most of the exports. Recurring political instability, sometimes initiated from outside the country, and an ongoing electricity crisis have inhibited growth. The government, elected in mid-2016, has moved to improve revenue mobilization, reduce expenditures, and improve electricity access.
The Ivory Coast is largely market-based and depends heavily on the agricultural sector. Fiscal policy has focused on promoting investment and funding other development needs.
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Cote d’Ivoire has experienced a boom in foreign investment and economic growth. For the last 5 years Cote d'Ivoire's growth rate has been among the highest in the world.
DEMOCRATIC REPUBLIC OF CONGO
The economy of the Democratic Republic of Congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services. Nowadays the country is increasingly converting natural gas to electricity rather than burning it, greatly improving energy prospects. An uncertain legal framework and an outmoded and arbitrary regulatory environment are significant obstacles for business owners. The prevalence of state-owned enterprises limits foreign investment.
Structural reforms, including fiscal, monetary policies, taxation, privatization and new business legislations, helped Egypt move towards a more market-oriented economy and prompted increased foreign investment. Government openness to foreign investment is above average. The state’s presence in the financial sector has been phased out, but modernization of the sector has progressed slowly.
Eritrea has an extensive amount of resources such as copper, gold, granite, marble, and potash. However, economic mismanagement and structural anomalies that severely undermine private-sector development have impeded productivity growth, dynamism, and overall economic growth. Procedures for establishing and running a business are opaque and costly. The government dominates most aspects of the economy and maintains ownership barriers that reduce or prevent foreign investment
Ethiopia is a mixed and transition economy with a large public sector. Government’s plan is to transform the country from an agriculture-based economy into a manufacturing hub hinges on improved transport and energy infrastructure and greater agricultural-sector productivity. Banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies. The government strongly influences lending and funds state-led development projects by forcing private banks to purchase treasury bills.
The economy of Guinea-Bissau depends mainly on agriculture and fishing. Guinea-Bissau is among the world's least developed nations and one of the 10 poorest countries in the world. From a European viewpoint, the economic history of the Guinea Coast is largely associated with slavery. Protection of property rights is generally weak. Private-sector development remains severely challenged by the opaque regulatory environment, although there have been incremental improvements to make it easier to run a business in recent years. Much of the labor force is employed in the public sector.
The economy of Lesotho is based on agriculture, livestock, manufacturing, mining. The labor market remains rigid and not fully developed. moving from a predominantly subsistence-oriented economy to a lower middle income, diversified economy exporting natural resources and manufacturing goods.
A well-established market economy with regards to its agricultural industry and emerging tourism, textile and mining industries, but the capital market remains undeveloped. Madagascar's status as a developing nation exempts Malagasy exports from customs protocol in some areas, notably the United States and European Union. These exemptions have supported the growth of the Malagasy textile industry. Despite a wealth of abundant and diverse natural resources, Madagascar is one of the world’s poorest countries.
Mozambique faces an unsustainable external debt burden, a sharp drop in capital inflows, and weak economic growth that threatens macroeconomic stability. Although the country had benefited from debt forgiveness and rescheduling. Mozambique made it harder to start a business by increasing registration and notary fees, but it also improved access to credit information by allowing a credit bureau to be established. The financial market, dominated by growing banking sector, is fairly well developed compared to other economies in the region.
Rwanda is a developing country with about 70% of the population engaged in agriculture. However, Rwanda has undergone rapid industrialization thanks to good government policy. Rwanda made starting a business easier by improving the registration process but obtaining building permits became more difficult. Government openness to foreign investment is above average.
The economy is based on fishing, tourism. The public sector, comprising the government and state-owned enterprises, dominates the economy in terms of employment and gross revenue, employing two-thirds of the labor force. The largest share of private-sector employment is in the tourism sector, which, along with tuna fishing, has driven growth in recent years.
Somalia is classified by the United Nations as a least developed country. Despite experiencing two decades of civil war, the country has maintained an informal economy, based mainly on livestock, remittance/money transfers from abroad, and telecommunications. Inadequate infrastructure, the lack of a regulatory environment, and the constant threat of looting and violence deter business formation. Somali diaspora remittances continue to be an important source of foreign exchange and economic support
Sudan's economy boomed on the back of increases in oil production and large inflows of foreign direct investment. Agricultural production remains important, because it employs 80% of the work force and contributes a third of GDP. However, the petroleum sector provides some economic stability, but other sectors of the economy face serious structural and institutional deficiencies. There are few opportunities for entrepreneurial activity, at least within the formal economy. The labor market remains underdeveloped.
Its economy is in the process of economic reform and liberalization after decades of heavy state direction and participation in the economy. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. However, a relatively efficient business system suffers from a lack of transparency and inconsistent implementation. Government openness to foreign investment is below average.
This economy is a mixed economy with a dominating public sector. However, Zimbabwe's economy also suffers from excessive hyperinflation. An inefficient judicial system and general lack of transparency severely exacerbate business costs and entrepreneurial risk. Nontariff barriers significantly impede trade. Foreign ownership levels are capped, and sectoral restrictions impede foreign investment.