Scoring model overview
Each country receives a composite score from 0 to 10, computed from seven weighted dimensions. The weights vary by investor profile \u2014 a startup prioritizes execution speed over tax regime depth, while a large industrial group prioritizes fiscal attractiveness and macro stability.
Scores are computed independently for each country, then ranked. The model does not use relative normalization \u2014 a score of 7.4 means the same thing regardless of which other countries are in the comparison set.
The seven dimensions & profile weights
| Component | What it measures | Startup | SME | Industrial |
|---|---|---|---|---|
| Tax Attractiveness | Corporate tax rate, exemptions, incentive duration, ZFI / GDIZ access | 12% | 15% | 15% |
| Operational Costs | Labor cost, energy, office rent, banking fees | 12% | 16% | 18% |
| Execution Ease | Company formation speed, digitalization, one-stop shop, ease of business | 25% | 10% | 7% |
| Macro Stability | Inflation, debt/GDP, growth, FX reserves, monetary union | 10% | 10% | 12% |
| Business Climate | IFI relations, recent reforms, LP investor sentiment, country signals | 8% | 7% | 8% |
| Sector Relevance | Country x sector fit: infrastructure, ecosystem, recognized hub, value chain | 18% | 24% | 24% |
| Market Accessibility | Market size, middle class, ECOWAS regional access, digital penetration | 15% | 18% | 16% |
Each component is scored /10, then multiplied by its weight. The sum yields the raw score (before risk penalty).
The macro risk penalty
The raw score is reduced by a penalty computed from 4 weighted risk factors (debt, inflation, FX, governance), capped by profile type.
Three illustrative scenarios
Data standards & limitations
Sourced directly from official government or regulatory texts. Highest confidence.
Derived from official adjacent sources or industry surveys. Moderate confidence.
Computed from related inputs using documented methodology. Indicative only.
- —Scores reflect declared/published regimes, not the negotiated outcomes available to large anchor investors.
- —Sector scores are aggregated indicators, not country-specific sectoral feasibility studies.
- —The model does not account for specific project-level factors (site availability, off-take agreements, partner quality).
- —GHS (Ghana Cedi) FX volatility is factored into macro scores but not into fiscal savings calculations.
- —Data is verified at the publication date shown. Tax laws and incentive regimes change — always verify with official agencies.
Primary sources
| Organisation | Type | Used for |
|---|---|---|
| World Bank | Official | Ease of Doing Business, governance, GDP data |
| IMF | Official | Macro forecasts, inflation, balance of payments |
| BCEAO | Official | UEMOA monetary data, FCFA zone rates |
| OHADA | Official | Business law, formation requirements |
| APIEX (Bénin) | Official | Investment code, regime conditions, thresholds |
| CEPICI (CI) | Official | Côte d'Ivoire investment code, VITIB conditions |
| APIX (Sénégal) | Official | Investment code, Startup Act, Diamniadio conditions |
| GIPC (Ghana) | Official | Ghana investment promotion, GFZA conditions |
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