Kenya’s accelerated business reforms has led to the World Bank citing the country as the most reformed country in Africa for a second in succession by the World Bank in its latest Ease of Doing Business report.
Kenya is now ranked at 92nd position, climbing 21 places from 113th last year, in the latest World Bank report, which rates the country as the world’s third most improved country.
The World Bank notes that Kenya has been carrying out major reforms in its business environment, simplifying tax laws, lowering the cost of electricity while digitizing government records to make them accessible.
The World Bank Group and its affiliate, the International Finance Corporation (IFC), benchmark 190 countries globally against 10 indicators on how easy it is to do business in a given country.
Industrialization Cabinet Secretary (Minister) Adan Mohammed said here Wednesday the government would continue to carry out major business reforms to take Kenya into the top 50 business destinations in the medium term.
Kenya scored impressively in areas such as fewer procedures, quality of regulations which influenced the country’s score moving up to 61.22 from 57.5 last year.
Source: NAM NEWS NETWORK