Positioned first by the World Bank, Rwanda has made a number of reforms that have improved the ease of doing business. Coming in the second spot is Georgia, which launched the first Public Service Hall in 2011 to streamline business registration. The two countries emerged top of the 128 governments, which introduced a record 314 reforms set to benefit small and medium businesses and entrepreneurs. Part of the reforms include the digitisation of land records; reducing the time needed to start a business from 43 days to 4 days; increasing access to finance by passing secured transactions laws; and simplifying tax systems, making it easy to comply to tax regulations. Such reforms saw the country rise up 11 ranks to #29 in 2018 from #41 in 2017. It was second on the continent after Mauritius, which was ranked #20 globally. Rwanda is also considered one of Africa’s fastest growing economies, thanks to its rapidly urbanizing middle class.
SOURCE: HOW AFRICA
More Stories
Economic Perks of Growing Cycling Culture in North Africa
The Bank of Uganda Lowers Limits on the Value of Cheque Payments to Promote e-payments
Four Industrial Policy Regimes that have Shaped Africa
Ex Standard Bank Leader Cleared in Mozambique Price Fixing
Zanzibar and Pemba are about to Become a Test Site for a Mobile Internet Network
East Africa’s Mineral Deposits at the Centre of Future-facing Commodities
A Scramble for Controlling Interest in Nigeria’s Oldest Bank
Top Risks Facing South Africa
New Scheme to Save Zimbabwe’s Botched Land Reform
The First Floating LNG Facility is Deployed in the Deep Waters of the African Continent
The EU Lifts Air Travel Bans on Southern African States
Senegal’s Illustrious Portfolio of Architecture