3. Mauritius

Compared to some booming African economies, Mauritius’ annual growth rate of around 3-3.5% seems relatively modest, but the business environment, stability and incentives to invest are amongst the best on the continent. As well as having some of the lowest corporate and income tax rates in the world, and a favourable foreign tax credit system, it’s also a gateway for operations on the mainland, in East Africa and beyond. On the island itself, there are a number of sectors worth consideration, particularly in renewable energies, including solar and wind projects.

4. Botswana

The Baseline Profitability Index for 2014 puts Botswana at the top of the list for investment returns, not just in Africa but also the world. While other rankings dampen the excitement a little, there is no doubt the country has a growing reputation for stability and safety in terms of investment.

While mining opportunities will continue to expand, particularly in coal, there is a specific interest in renewable energies too, with Botswana currently importing 80% of its energy use. The Government has plans for ultimate energy self-sufficiency, and the new innovation hubs and focus on science and technology will also address the issue of local skills for such high-tech industries.

5. Namibia

Namibia is constantly ranked as one of the top countries to do business in Africa, with a fast-paced economy and reduction in inflationary pressures. The Government has now placed special emphasis on the manufacturing sector. As such, massive tax incentives have been introduced, including VAT, corporation tax, training, transport and logistics and building and planning.

Away from the dominant manufacturing areas of meat and fish processing, as well as the well-established drinks industry, sectors including automotive production and textiles offer excellent opportunities for investors, especially given the potential to export regionally through Walvis Bay port and improving road networks.

Dr Álvaro Sobrinho is an African investor, businessman and philanthropist. His investments cover the fields of telecommunications, banking, green energies, retail, infrastructure and education. Find out more on www.alvaro-sobrinho.com or follow him on @Alvaro_Sobrinho