Rwanda is ranked the 2nd easiest place to do business in sub-Saharan Africa after Mauritius, the 1st in the East African region and the 41st globally out of the 190 economies assessed in this year’s World Bank Doing Business report.
The 15th edition of the report shows that the country has made significant improvements in a number of growth indicators compared to previous year.
According to the report, Rwanda recorded its biggest progress in the area of property registration where it is now ranked the second in the world, as it takes only 7 days to transfer property at a cost of only 0.1% of the property value. Rwanda has also earned a good ranking in the area of getting credit as the country scored the 6th position globally.
According to the CEO of the Rwanda Development Board, Clare Akamanzi, the ease of doing business is part of the government’s policy of transforming Rwanda into a middle-income country by 2020, and business reforms are a significant tool in improving and promoting the business environment through joint efforts.
“We need to continue working harder to improve our business and investment climate so that Rwanda continues to register remarkable progress in the World Bank Doing Business rankings,” she remarked. “In this regard, public-private partnerships remain a priority in promoting a private-sector-led economy in order to achieve all the set targets that will maintain Rwanda’s competitive position globally.”
The Minister of Trade and Industry, Vincent Munyeshyaka, expressed his satisfaction with the good ranking and improvements in this year’s index.
“First and foremost, we are very much pleased with our county’s performance in the World Bank’s Doing Business report 2018, which is an important tool in improving investor attraction," he noted. “The government encourages all stakeholders to maintain momentum in promoting Rwanda as an investment destination. I also take this opportunity to invite the World Bank Group to Rwanda so that we can discuss the next action plan.”
Rwanda has implemented the highest number of reforms in sub- Saharan Africa in the past 15 years with a total of 52, followed by Kenya (32) and Mauritius (31), which gives the country the consistency that needs to be applauded, according to Yasser El-Gammal, the World Bank’s Rwanda Director.
“I congratulate Rwanda for the encouraging results and for maintaining consistency in improving the doing business environment every year,” he said.