East Africa could match Japan in ease of doing business.
The IFC and the World Bank have launched a report stating that if the best of East African regulations and procedures were implemented across the board, the business regulatory environment in East Africa, as measured by the report, would be comparable to that in Japan.
The report, Doing Business in the East African Community 2011 , draws on data from the annual global Doing Business study and takes a detailed look at business regulations in Burundi, Kenya, Rwanda, Tanzania, and Uganda. The report states that East Africa could benefit from sharing good practices in business regulation as measured by Doing Business.
In the past five years all East African Community economies made it easier to do business. The average ranking for those countries is 117 out of 183 economies overall in Doing Business 2011. Kenya has some of the most business-friendly regulations for dealing with construction permits. Ugandan courts resolve insolvency relatively efficiently. And Rwanda is among the fastest places to start a business.
"If each East African country was to adopt the region's best practice for each Doing Business indicator, East Africa would rank 18, bringing the community closer to the global top performers," said Sabine Hertveldt, World Bank Senior Private Sector Development Specialist and co-author of the report.
2011 CPI Financial. All rights reserved.
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