For the first time in 7 years, Kenya has breached the top 100 bracket in the Ease of Doing Business table, having leapt 44 positions in the past 2 years.
Since last year’s World Bank Ease of Doing Business report, Kenya’s standing has improved by 21 places, indicating that the raft of government business reforms could be starting to pay off.
Released on Tuesday, the Doing Business 2017 report placed Kenya at position 92 out of 190 countries surveyed, with New Zealand replacing Singapore as the easiest place in the world to do business.
The improvement in Kenya’s standing was credited to five reforms in the areas of starting a business, obtaining access to electricity, registering property, protecting minority investors and resolving insolvency.
Industrialisation Cabinet Secretary Adan Mohamed welcomed the report, saying: “This is a marathon and we will not be complacent until we attain position 50 by 2020.”
It was a double celebration for Kenya as it was also ranked the world’s third most reformed country and the only African country to be named in the top 10.
— World Bank Kenya (@WorldBankKenya) October 26, 2016
A record 137 economies around the world were reported by the World Bank to have adopted key reforms that make it easier to start and operate small and medium-sized businesses.
Speaking on Twitter, UK High Commissioner to Kenya, Nic Hailey said “Hongera Kenya. UK proud to keep supporting you”.
Hongera Kenya. UK proud to keep supporting you. https://t.co/GMTWUco34n
— Nic Hailey (@HCNicHailey) October 26, 2016
Pete Vowles, head of the DFID in Kenya, added ” Delighted to see Kenya rise up the Ease of Doing Business rankings – again the key reformer in Africa with DFID support.”
The latest survey found that developing countries carried out more than 75 per cent of the 283 reforms in the past year, with sub-Saharan Africa accounting for over a quarter of all reforms.
In its global country rankings of business efficiency, the World Bank awarded its coveted top spot to New Zealand, with Singapore ranking second, followed by Denmark, Hong Kong, China and the Republic of Korea.