Kenya ranked 3rd in World Bank Ease of Doing Business report

Kenya has been ranked third in Sub-Saharan Africa in the 2017 World Bank Ease of Business Index, moving up 12 places to a global ranking of 80.

The World Bank Report, which assesses among other factors the processes required to start a business, placed Kenya third in Sub-Saharan Africa behind Mauritius and Rwanda.

Cabinet Secretary for Industry Trade and Cooperatives, Adan Mohammed hailed the ranking adding that the country would be seeking to get to a global ranking of top 50 in the coming years.

“Our improvement starts today for next year. Our target is to be in the top 50 countries in the world in the next couple of years, and we put that target three years ago,” CS Mohammed said in a press address at the National Social Security Fund (NSSF) building.

CS Mohamed added that for the second year running, Kenya had delivered the highest number of business reforms in all of Africa.

Kenya Private Sector Alliance (KEPSA) Chief Executive Officer Carole Kariuki said business reforms made it easier for entrepreneurs to start up businesses in Kenya. She acknowledged that the reforms would not only benefit foreign and large-scale investors, but also small and medium enterprises.

“The multiple impact of the changes is excellent not only for big investors who are looking to invest in the country, but also for you and I, who want to do business every day, or the business person who has employees and knows they can keep them in office,” said Ms Kariuki.

The World Bank Report, which also considers factors such as getting electricity, dealing with construction permits and enforcing contracts, bench-marked economies of world nations as at June 2017.

The annual ranking has seen Kenya gradually improve yearly, with the country having been ranked globally at 113 in 2015 and 92nd last year.