VENTURES AFRICA – The International Finance Corporation (IFC) arm of the World Bank has revealed in a report that 36 out of 46 economies in Africa has improved in the ease of doing business.
The report – ‘Doing Business 2012- Doing Business in a more transparent world’ contains the survey of 183 economies of the world.
Although, the report does not tell the whole story about a country’s business enviroment, it takes into account all factors important to doing business like macro-economic condition, market size, workforce skill and security.
Globally, South Africa, Tunisia, Rwanda and Ghana ranked 36th, 40th, 45th and 63rd positions respectively while Morrocco climbed 21 places to 94th position.
Regionally, Mauritius emerged the best country to do business in Africa followed by South Africa, Rwanda, Bostwana and Ghana, the report revealed.
Nigeria maintained its 133rd position from 2011 while it ranked the 15th easiest country to do business within the African region.
Kenya fell from its former position of 106 in 2011 to 109 this year. Uganda and Tanzania also fell from their former positions of 119 and 125 last year to 123 and 127 respectively.
Rwanda remains the easiest country to do business in East Africa.
Other African countries recognised with ease of doing business include Moldova, Macedonia, Sao Toame and Pricipe and Lavia.
Cape Verde, Sierra Leone and Burundi also recorded great improvements.
Singapore, however take the lead as having the easiest economy for doing business globally.
Image via Kenya.Embassy