1. Equatorial Guinea

Starting a business in Equatorial Guinea takes approximately 136 days compared to an average of 46 days for the sub-Saharan Africa region.

Equatorial Guinea charges $2,321 (Sh250,551.95) to get documentation necessary to begin any business (considerably the highest in Africa.

The company must register its employees for social security in the first month that the employees receive a salary.

Social security payments are 21.5 per cent of salary for the employer and 4.5 per cent for the employee.

To register for social security, the company must buy special forms to list all employees.

However, all new businesses obtain a copy of the criminal records at the Court free of charge.

2. Congo Brazzaville

It costs about $1236 (Sh133,426.20) to start a business in the Congo Republic. A limited liability company (LLC) can be wholly own by a foreigner with minimum one shareholder.

It requires a minimum share capital of $ 2,000 (Sh215,900) to establish an LLC in DR Congo.

It takes around a week to open a corporate bank account and anything between 4-6 weeks to get a certificate of Incorporation.

Non-residents need to obtain work permit to do business in Congo.

3. Gabon

Starting a business in Gabon takes approximately 58 days. It costs an estimated ($953.65) Sh102,946.52 whereby the founder or the notary public deposits the initial capital in a bank and obtains the deposit evidence.

The notary public issues a certificate of payment of the initial capital within 14 days.

After depositing the documents, the founder pays the fees at the cashier and obtains a receipt.

New businesses must publish a notice of their company formation in a legal journal.

The investor then notifies the Ministry of Labor the commencement of operation.

Registering the employees with the social security authorities is also a key step before beginning business in Gabon.

4. Somalia

Despite being an insecure nation, hundreds of investors are trooping to Somalia.

It costs roughly ($900) Sh97,128.00 to set up a business in Somalia after fulfilling all formalities.

In order to have your business company registered within the Ministry of Commerce and Industries in the Federal Republic of Somalia, an application is sought via email.

This is done to verify whether your actual business name was previously existed in registration for another business firm.

The businessperson intending to register is required and may produce documentary evidence that fully express the company’s data.

Notary authentication is necessarily needed with regard to the ownership of a business company, its objectives and services provided.

5. Seychelles

You need to get an approval from the Government of Seychelles by submitting a business plan or memorandum of your proposed project/business to the Seychelles Investment Bureau (SIB).

It costs about $749 (Sh80,832.08) to start a business in the Indian ocean country.

The bureau will process your project proposal and communicate the decision by way of a formal letter to you within 30 days from the date of receipt of your proposal, if no other documents requested by SIB are required.

Within 7 days of the commencement of your business, your business needs to be registered with the Social Security Fund and The Ministry of Finance.

6. Chad

A Limited liability Company can be wholly owned by a foreigner with the share capital of $2,060.00 (Sh222,480.00). However to start a business fully needs Sh64,212.40 capital.

For a limited liability company (LLC) in Chad, at least one shareholder and one director are required. The investment made depends on scale of preference.

7. Zimbabwe

 The Government has put in measures and incentives to attract foreign investment in several sectors of the economy.

On average, it costs $576 (Sh 62,161.92) to start a business in Zimbabwe. All new foreign investment into Zimbabwe requires an investment licence Issued by ZIA.

The Zimbabwe Investment Authority (“ZIA”) was established by the ZIA Act for the purposes of providing the promotion and coordination of investment into Zimbabwe.

8. Central African Republic

The Central African Republic reduced the cost of doing business by reducing business registration fees and by replacing the requirement for a copy of the founders’ criminal records with one for a sworn declaration at the time of the company’s registration.

On average, it costs about $532 (Sh57,413.44) to get the paperwork ready to start a business in CAR.

The country improved access to credit information by establishing a framework through the Central African Economic and Monetary Community for the licensing and operation of credit bureaus.

Central African Republic made resolving insolvency issues easier by introducing a new conciliation procedure for companies in financial difficulties and a simplified preventive settlement procedure for small companies. 

9. South Sudan

It costs about ($373) Sh40,254.16 to start a business in the continent’s youngest nation.

The entrepreneur prepares the memorandum of association (MoA) with a lawyer.

The registry requires entrepreneurs to use a lawyer to draft the MoA which has to state the objectives of the company, postal address of the shareholders and the articles of association.

Copies of the passports or nationality IDs are also attached. The lawyer who drafts the Memorandum and articles of association must be an enrolled advocate in the republic of South Sudan and must hold a valid practicing license for that specific year.

The entrepreneur submits a standard form with three different business names to check the availability.

Once the availability is confirmed, the entrepreneur can reserve the name, which will be valid for 30 days.

10. Kenya

The official Gazette Notice Legal 61 published April 2016 says there is a fee of Sh10,000 charged for new company incorporation.

The fee for using the online system is currently 50 shillings and the fee for completing the check at the end of the incorporation process is Sh600.

After registration and certification, at least Sh38,088.21 would have been used to set up a business in the largest economy in East Africa.

However, chief executives continue to cite red tape, corruption and ever-changing legislation among the factors that increase the cost of doing business.