Forbes, the American business magazine, has ranked list of best countries for business in the world.

The magazine based the ranking on innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection.

The United Kingdom was ranked as the best country for business in 2018.

In Africa, South Africa clinched the 48th and the best place on the index for best country to do business on the continental followed by Morocco on 55th position and Rwanda in a distant 79th position.

ALSO READ: How Sub-Saharan Africa countries convert wealth to well-being for their citizens

Africa's populous nation, Nigeria, was ranked 115th, beaten by Benin Republic, Ghana, Kenya, Tunisia, Tanzania.

Business Insider SSA looks at the 10 worst countries for business in Africa this year, according to the ranking:

10. Chad

GDP: $10 billion

Tax Burden rank: 152

Innovation rank: 128

Workforce rank: 102

Red Tape rank: 150

9. Gambia

GDP: $1.0 billion

Tax Burden rank: 136

Innovation rank: 106

Workforce rank: 138

Red Tape rank: 141

8. Libya

GDP: $20 billion

Tax Burden rank: 104

Innovation rank: NA

Workforce rank: 141

Red Tape rank: 139

7. Guinea

GDP: $8.5 billion

Tax Burden rank: 148

Innovation rank: 48

Workforce rank: 115

Red Tape rank: 106

6. Burundi

GDP: $3.1 billion

Tax Burden rank: 112

Innovation rank: 121

Workforce rank: 124

Red Tape rank: 39

5. Zimbabwe

GDP: $16 billion

Tax Burden rank: 116

Innovation rank: 131

Workforce rank: 83

Red Tape rank: 148

4. Togo

GDP: $4 billion

Tax Burden rank: 140

Innovation rank: 121

Workforce rank: 124

Red Tape rank: 39

3. Mauritania

GDP : $5 billion

Population: 3.8M

Tax Burden rank: 145

Innovation rank: 135

Red Tape rank: 40

2. Democratic Republic of Congo

GDP: $39 billion

Population: 83.3M

Tax Burden rank: 147

Innovation rank: 115

Red Tape rank: 56

1. Liberia

GDP: $2 billion

Population: 4.7M

Tax Burden rank: 62

Innovation rank: 118

Red Tape rank: 49