Gray Frame Corner

The Best Emerging Markets for Investing in Africa

We've long been drawn to Africa's investment potential. Frontier marketing investing, a key part of our Nomad Capitalist strategy, promises substantial returns.


Reliable information is the biggest challenge in finding the best African investment opportunities. Data alone won't get you far; real-world experience matters.

Challenges to Investing in Africa

African markets offer high-risk, high-return potential for young, risk-tolerant investors. Established investors might consider diversifying into frontier markets for growth opportunities beyond African ETFs.

While investing in Africa’s new frontiers is far from easy, I’ve created a list of our favorite African emerging markets based on years of in-person research, local connections, and analytics.

The Best Countries for Investment in Africa

Rwanda is a fast, business-friendly market, often compared to Singapore. It has efficient government processes and a clear vision for development, making it a promising investment despite its difficult history.


Zambia, stable in Africa, offers incentives for new businesses, 0% corporate tax for five profitable years, and positive GDP growth. Its strategic location enhances trade opportunities.


Gambia, once oppressed under Jammeh, is now adopting a business-friendly approach with tax breaks and reforms, making it a promising frontier market.


Djibouti's strategic location and friendly relations with neighbors make it an attractive investment spot. Chinese investment, a growing GDP, and a sense of safety due to expat presence add to its appeal, despite some economic challenges.


Other friendly countries to invest in Africa include Egypt, Morocco, Kenya, Botswana, Ghana, Côte d’Ivoire etc. Africa still has some challenges, of course. However, some niche funds on the ground may offer some potential.

Emerging and frontier investment opportunities are not for everyone. This is not investment advice, and we highly recommend consulting with experts on the ground who are dealing with high-risk investments.


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