By Sotunde Busayo
A World Bank report released this week has indicated that 36 of 46 sub Saharan Africa nations have improved their business environment.
The report ‘ Doing Business 2012 : Doing business in a more transparent world’ is based on the criteria in starting business, dealing with construction permit, getting electricity. Registering property, getting credit, employing workers, protecting investors, taxes, enforcing contracts, trading across borders and resolving solvency.
This is the highest smear since the study began nine years ago.
“we are very excited about Africa’s improvement” said Mikiko Imai Ollison one of the authors of the report.
This makes it easier to open and operate businesses as the report indicated that about 78% of the continent’s nation has improved economically.
Based on the assessment of keeping track of regulatory changes in 183 countries for business throughout their lifecycle from ease to business start-up and getting credit to protecting investors and dealing with insolvency, Morocco’s ranking has the most improvement globally moving 21 places from last year’s position of 115 to 94.
The North African country’s rank swept up as a result of the business-friendly reformations in simplified construction permit, strengthening investors protection by allowing majority shareholders to obtain non-confidential corporate documents during trials and enhanced tax filling.
With Mauritius as the highest ranked African country on the list at the 23rd position and South Africa at the 35th position, Rwanda had a fantastic turnout as it climbed to the 45th position after moving from the 143rd to the 67th position in 2010.
Other Africa countries that improved on the World Bank report of nations with the capacity of doing business with ease include Moldova, which moved 18 place, Macedonia 12 place, the West Africa Island of Sao-Tome & Principe 11 places while Case Verde.
Sera Leone, Latvia and Burundi were among the top ten nations that implemented the most changes.
“Across the sub-Saharan Africa, regulatory reforms had been broadening with economies implementing reforms to make it easier to do business in more than three or more areas,” the World Bank said.
With the survey in its 9th year, “This is good news to entrepreneurs in the region (Africa) where starting and running business is still more complex than other region in the world”, it added.