Kenya Climbs 19 Places in Ease of Doing Business
Kenya’s sustained reforms to make doing business easier has finally paid off after the country moved 19 places to 61 out of 190 according to the World Bank Ease of Doing Business Report 2019.
The report that was released on October 31 ranked the country at position three in Africa and seventh among most improved economies globally.
The improvement was as a result of Kenya’s continued reforms on ease in starting a business, getting electricity, access to credit, dealing with construction permits, trading across borders and paying taxes.
“In recent years, Kenya has embraced a strong reform agenda aimed at boosting investment and creating jobs. During this past year, Kenya has once again showcased itself as one of the global leaders in adopting international best practices in business regulation,” read the report.
Despite the great strides made by the government, the report reveals that a lot still needs to be done to overcome the remaining hurdles if the country was to appear among the top-ranked globally.
“Even though this is a great accomplishment, I also encourage the government to persist in its efforts to address the remaining hurdles that affect the establishment and growth of SMEs in the country, a segment that is critical to the creation of more jobs and opportunities for Kenyan youth,” noted World Bank Kenya Country Director Felipe Jaramillo.
The report noted that it still costs 25% of the income per capita to start a business in Kenya a situation that is almost ten times more expensive than in Cote d’Ivoire. The process takes about 23 days in Kenya as compared to just four days in Rwanda.
It also faulted the number of procedures (9) one has to go through to register a property; this is above the average of six in the region.
Mauritius and Rwanda took the first two positions respectively while New Zealand, Singapore, and Denmark were first, second and third globally in ease of doing business. The report ranked Afghanistan the most improved economy followed by Djibouti and China respectively.
The ease of doing business score looks at the gap of individual economies from the best regulatory performance observed on each of the indicators across all economies in the Doing Business sample in the past thirteen years.
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