Rwanda has become the best performing country among African countries in making reforms to easing doing business, and facilitating investors, a new World Bank Report shows.
The World Bank’s 2018 doing business report states that Rwanda is the country that managed to do more reforms in fifteen years ago with the aim to facilitate investors than other African countries.
The report which was officially launched on October 31, 2017 says that Rwanda became the second country in sub Saharan Africa with 73.4 percent marks after Mauritius that has got 77.5 percent in facilitating investors.
It (Rwanda) is ranked the 41st worldwide from 56th last year.
The overall rank of countries with many reforms to facilitate business operators in Africa also goes to the government of Rwanda with 52 currently in the last 15 years followed with Kenya with 32 reforms and Mauritius with 31.
In the last nine years, Rwanda is also ranked the 1st African country to significantly improve in evaluating and organizing business institutions.
Kenya took the third place in Africa and 80th globally followed by Botswana which became the 81st worldwide. Uganda was ranked the 122nd whereas Tanzania became the 137th.
Among the reforms in which Rwanda succeeded include improving construction permit process by increasing quality control reducing the long time it took to get the permit comparing to previous reports, where the country dropped from 37th to 159th position globally.
In the last 15 years, to handle commercial-based issues could take over 390 days whereas it only takes 23o days.
According to the Minister for Trade and Industry Vincent Munyeshyaka the report assessment was satisfactory as it is the first time Rwanda becomes among 50 countries in the world.
“This shows us that development is something possible, this is the first time our country becomes among 50 countries in the world, it is up to us to continue performing in what we successfully achieved, and after then we need to work hard to keep developing our country,” Munyeshyaka said.
Munyeshyaka appreciated the efforts of the government’s initiative to facilitate investors through Rwanda Development Board (RDB).
According to Clare Akamanzi, RDB’s Chief Executive Officer, Rwanda has significantly put efforts in doing reforms as it implemented five reforms last year, which she said increased its opportunity to put 15 countries behind.
Small and medium enterprises among others have benefited from the reforms with opportunity to get clear judgments and justice in courts.
516 total views, 1 views today