Rwanda once again presents remarkable progress in World Bank Doing Business Rankings by scoring 56th position from 62nd position out of 190 countries in the 2017 report. In Africa, Rwanda is ranked the 2nd easiest place to do business coming 7 positions closer to Mauritius, ranking on the first spot in Africa and 49th globally.
The World Bank Doing Business Report has ranked Rwanda 2nd in Africa after Mauritius. And globally, Rwanda has improved six places ranking 56th out of 190 countries.
The report indicate that Rwanda reduced the gap with Mauritius from 30 places last year to only seven places.
According to the World Bank Doing Business Report the following indicators triggered significant improvements in the country:
- In starting business, Rwanda made business easier by improving the online registration one-stop shop and streamlining post-registration in particular putting VAT registration online.
- In registering property, Rwanda made it easier to register property by introducing effective time limits and increasing the transparency of the land administration system
- In trading across borders, Rwanda made trading across borders easier by removing the mandatory pre-shipment inspection for imported products.
- In enforcing contracts, Rwanda made enforcing contracts easier by introducing an electronic case management system for judges and lawyers.
Botswana grabbed the third place in Africa and 72nd globally, with South Africa trailing at 73rd globally.
Morocco scooped fifth on the continent and 75th globally.
The 2017 report is the 14th edition of a series of annual rankings that examine the regulations and conditions that enhance business conduciveness as well as those that limit.
The Chief Executive Officer of the Rwanda Development Board Honorable Francis Gatare said, “Rwanda over the past few years has focused on optimizing the service industry and capitalizing on investment opportunities that promote long term sustainable growth, owing to the significant advancement of 56th position from 62nd position globally.”
He also noted that, “We also continue to harness the role of the private sector in accelerating economic growth to make the country even much easier and conducive in conducting business.
However, we would not have achieved these advancements without the support of our stakeholders whose social and financial impact has been greatly realized in the country, we shall therefore continue to stretch our borders and ensure that strengthening the regional economy is at the centre of Rwanda’s sustainable development making Africa an investment hub as a whole”
The World Bank Doing Business report focuses on several aspects that facilitate business including; the ease of starting a business, obtaining construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
The report’s authors observed that that the rapid improvement across all the key sectors was largely characterised by progress in aspects such as transparency, accountability and strategic channeling of investments to maximise impact.
Rwanda scored high in the service industry. In credit financing, Rwanda was scooped second position in the world. And in registration of property, Rwanda came fourth worldwide.