Kenya has been ranked third in Sub-Saharan Africa in the 2017 World Bank Ease of Business Index, moving 12 places to a global ranking of 80 out of 190 countries.
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.
Industrialization Cabinet Secretary Adan Mohammed attributed the improvement to reforms in starting a business, dealing with construction permits, getting electricity, access to credit, paying taxes, and trading across borders.
“The Improvements are driven by efforts by the government and the private sector in improving the business climate. Kenya has delivered the highest number of business-related reforms on the African continent for the second year running,” he said.
The country has moved 53 positions over the last three years and the new position is Kenya’s best performance in the last 15 years.
Last year, Kenya moved 21 places to position 92 globally making it the third most improved economy for two years in a row.
In the 2016 report, Kenya was ranked 113 having moved 28 positions from the previous year.
The target for Kenya now is to attain position 50 by 2022.
“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.
The report has of course caught the eye of President Uhuru Kenyatta who has expressed pride over the improved performance.
“Proud that Kenya has moved up 12 spots to 80 in the 2018 World Bank global Doing Business rankings. We were ranked 92 last year and 136 in 2013.
“This is our country’s best performance in 15 years. Cumulatively, Kenya has moved up 56 spots over the past 3 years,” said Uhuru.
He added: “Being ranked as 3rd most reformed country in Sub-Saharan Africa shows that Government efforts to enhance the business environment are bearing significant fruit.”