Kenya jumped 21 places in the World Bank's Doing Business report indicating a positive change in the country's business environment. Kenya now ranks 108 out of a total 189 countries covered by the report and 9th in Africa. Among the key reforms that drove the positive trend were efforts to streamline business registration procedures, cutting down on the number of days it takes to register a business, reduced electricity connection procedures and the amount of time it takes to get connected and the introduction of Credit Reference Bureaus that has contributed to improving access to credit.
The Government of Kenya has also recently enacted several business-friendly laws, such as the Companies Act, Insolvency Act and Special Economic Zones Act that should further enhance the business environment of the country. Creating a favorable environment for businesses entry and operation is an important signal that demonstrates investment readiness.
Among the African states assessed, Rwanda took position 62, South Africa - 73, Uganda - 122, Tanzania - 139 and Ethiopia - 146.
Kenya's improvement in the rankings is a testament to the dedication of the cross ministerial teams that have worked hand in hand with the private sector to achieve this remarkable result.
We are very excited about what this means for attracting investment to the country/ region, said the Hub’s Investment Director Kanini Mutooni