Worldbox Business Intelligence, an independent service that provides online identifications of registered companies, has announced that it now offers complete identification company records for Rwanda, Tanzania, Mauritius, Uganda and Madagascar with extended business records for 25 other African countries.

The Worldbox Africa Business Records Database aims to list and offer information on all of these domestic businesses, as well as the international businesses they work with.

Adrian Ashurst, CEO of Worldbox, said: “With much of Africa's domestic markets not mature enough for international trade, and a lack of formal domestic company information and record-keeping systems; risk departments of international businesses are understandably apprehensive about doing business there.”

“At the same time, there is growing market demand for expert knowledge about firms in Africa against a rising backdrop of fraud, financial disputes and corruption, including FCPA investigations and compliance audits for international firms operating there,” he said.

The database now contains the complete identifications of registered companies in 56% of countries within the Africa continent, and coverage is continuing to grow month-by-month.

Ashurst said the firm identified and anticipated Africa's explosion in new company formation and business growth - and the demand for information about them - some years ago.

"Worldbox, operating within the Business Information industry, has always had an eye on the emerging markets. As such, we began developing an online database of companies in Africa as far back as 2009 for anyone who wanted access to researched company information featuring the highest-quality background and financial information on any African target they wanted to do business with," he said.

Since then, there has been intense interest from international markets investing in developing nations continuing to pour growing amounts of capital into this vast continent, year-on-year.

This has led to a boom in the numbers of domestic businesses setting themselves up in Africa to service these international investors - for example, in construction and infrastructure, where a cross-border business requires roads to be built to reach mining areas, or housing to be built for its workforce.

Ashurst said business information and financial records within the Worldbox Africa Company Database are often sourced in person by its own agents operating on the ground, meaning risks can be significantly reduced for potential business partners in Africa: whether they’re looking to deliver to, invest, merge or buy into domestic businesses there.