Business In Africa

Nigeria increased its minimum wage by 133% in 2024, yet household consumption fell 61%. This reveals a harsh reality: Nigeria's middle class is disappearing. Once comprising 38% of the population in the 2010s, it's now estimated at just 12-19% in 2024. While wages rise nominally, purchasing power collapses under 40% food inflation. In Lagos, 78% of workers earn far below middle-class thresholds. Meanwhile, Nigeria's ultra-wealthy class grows, creating a "barbell economy" with

Africa's retail market will reach $2.5 trillion by 2030, yet 90% of transactions flow through informal channels. Opening a physical storefront means paying costs 2-5x higher than the US while competing against 2.5 million shops with lower overhead and deeper community ties. The survival rate? Only 10% make it past a decade. Meanwhile, B2B digital platforms connecting suppliers to informal retailers are achieving profitability and scale. Before signing that retail lease, under

Africa's entrepreneurship narrative celebrates one in five adults starting businesses—the world's highest rate. But this masks economic failure, not dynamism. With 95% of youth in vulnerable employment and only 3 million formal jobs created annually against 8-12 million entering the market, survival entrepreneurship dominates. By 2030, Sub-Saharan Africa needs 15 million jobs yearly—five times current rates. This isn't an entrepreneurial boom; it's a crisis demanding change.

This Document provides essential tax intelligence across 22 African economies. Compare corporate tax rates (0%-35%), VAT structures, withholding taxes, and investment incentives. Features quick-reference comparisons, country tax profiles, and strategic planning insights for optimal tax efficiency.

This Guide provides introductory information for establishing businesses across 22 key African markets. Compare registration costs, timelines, and requirements for LLCs, PLCs, and branches. Includes digital readiness rankings, foreign ownership restrictions, and strategic market entry considerations for informed decision-making.