Kenya has made a remarkable improvement on the ease of doing business after moving up 19 places in the World Bank’s rankings.
According to the latest global Ease Of Doing Business report, Kenya is among nine countries that made a notable improvement on their ease of doing business after moving to position 61 up from 80 last year.
President Uhuru Kenyatta said his government has been paying attention to various key reforms that have made our country more attractive for investment.
“Over the last five years, my government has been committed to improving the economic prosperity of all Kenyans. We strive each day to create an environment conducive for business by implementing a raft of measures to attract investments, accelerate economic growth & create jobs,” he said.
“We are positioning Kenya for a major economic lift-off and the attainment of Vision 2030. We seek to strengthen Public-Private Partnerships to deliver on the Big 4 Agenda and the improved Ease of Doing Business will definitely catapult us to achieve our development goals,” he added.
The World Bank has projected that Kenya will be the leading economy in Africa in the next 20 years.
The world bank’s ease of doing business report ranks economies on their ease of doing business on a scale of 1–190.
New Zealand, Singapore and Denmark took the lead in the ease of doing business rankings.
“A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm”.
The rankings are determined by sorting the aggregate scores on 10 topics namely;
- Starting a business
- Dealing with Construction Permits
- Getting Electricity
- Registering Property
- Getting Credit
- Protecting Minority Investors
- Paying Taxes
- Trading Across Borders
- Enforcing Contracts
- Resolving Insolvency