- Inconsistent electricity supply (brown outs are somewhat common)
- Poor physical infrastructure (at least a decade ago, copper cable theft was common)
- Business-unfriendly practices - I don't have the exact details, but you often have to run things through a local company with sufficient black representation. Sounds innocent enough, but does create a monopoly you have to deal with. Effectively a tax or bribe depending on perspective.
- Poor connectivity to the rest of the world (slowly getting there with more fibre cables arriving)
- (Edit) Severe water shortages, at least a couple years ago in Cape Town.
I would have thought somewhere North Africa would have been a real contender to make the decision require more thought. E.g. Morocco or Egypt, each with their own pros and cons.