Rwanda has risen 15 places biting its East African counterparts in the 2018 World Bank Doing Business Report.
Now ranked 41, Rwanda is 2nd on the continent behind Mauritius in the latest annual report released yesterday. The report examines the regulations and conditions that enhance or limit business conduciveness.
In East Africa, is Kenya ranked 81 (and third in Africa), Uganda at 122, Tanzania at 137 while Burundi and South Sudan ranked 164 and 187 respectively.
The ease of doing business is an index created by the World Bank Group which categorizes Higher rankings (a low numerical value) as a better indicator. This means that there are simpler regulations for businesses and stronger protections of property rights in the country.
Rwanda attributed the rise to the implementation of reforms including the improvement of construction permit process by increasing quality control and risk-based inspections.
Trade and Industry minister Vincent Munyeshyaka said the report is a “useful tool as we seek to attract investments into the country. It will help us identify areas where we need to improve and inform policy.”
Clare Akamanzi, the chief executive of RDB, told The New Times that this has since been corrected by ensuring that stakeholders in a specific sector are always updated on reforms.
“What we have learnt is that, as government, we should communicate and ensure that people in that specific sector get to know about it so that they can experience the reforms,” she said.