Regulation:-
There are many others here with more recent experiences who should be better informed. It is, however, common knowledge that in some countries there is no effective regulation and corruption is rife.
There is wide variation, in some countries the local CAA or equivalent is highly professional and effective. South Africa and Kenya are excellent examples in my experience.
Some of the worst examples such as Somalia do not even have an effective government.
Avoid the worst of the hell holes and you should be safe.