With all the problems we face as a country, Kenya is actually not doing as badly as we often like to imagine.
According to a report from the World Bank, Kenya was ranked 61st place in the global ease of doing a business ranking, from a rank of 80 last year making her one of the global top improvers alongside nations like Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Côte d’Ivoire, Turkey and Rwanda.
“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.
President Uhuru Kenyatta has expressed his optimism that Kenya will rise even higher in the Ease of Doing Business as the country continues to implement more reforms.However, he said that a lot more must be done in low scoring areas to help bridge the gap.
The President attributed the improvement to the reforms that have made Kenya attractive to investors. The reforms of the past year include; making registering property easier by introducing an online system to pay fees and obtain digital certificates. As a result, the time for a business to register a property transfer has been reduced to 49 days from 61 days.
Additionally, the introduction of strict regulations within the private sector that protect the investments of SME’s has also contributed to the ease of doing business.
President Kenyatta said that his government has over the last five years been committed to improving the economic prosperity of all Kenyans by creating a conducive environment for business and implementing measures to attract investments, accelerate economic growth and create jobs.
According to the World Bank, Kenya’s economy is expected to lead Africa in the next 20 years. This is because of the great strides the country has made in the process of registering property, protecting minority investors and cutting time spent on filing tax returns.
This is the first time since independence that Kenya is ranked in the top 65 nations as far as the Ease of Doing Business is concerned, and the 3rd time in four years to be among the top 10 most reformed countries globally.
“We may have a few rotten apples, but I can assure you that the bulk of the Civil Service is a committed group of people determined to see the improvement of their country and betterment of the lives of citizen,” said President Kenyatta.
What is your take on the World Bank report?