Kenya named as a top reforming country
Commenting on Kenya's achievements, Michael Klein, World Bank Vice President aid, “The changes have streamlined business start-up and cut both the time and cost of getting building permits.”
“I am very happy to accept the award on behalf of all the people of Kenya. I am delighted that the reforms we have been undertaking have been recognized internationally. We have made Kenya a much better country in which to do business. We have removed the bureaucracies of doing business and cut away lots of red tape. Our economy is reaping the rewards. We have had sustained economic growth now for four years, transforming Kenya into a working nation,” said Amos Kimunya.
Kimunya said the reforms the government had pursued have reduced poverty levels in Kenya by more than 10%, allowing more than two million people to escape poverty.
This award is one of many that the Kenyan government has received this year. Others include a United Nations honour for introducing civil service management contracts. Within the private sector Kenyan banks like Equity and KCB have also been recognised internationally for their stellar performances.
Doing Business 2008 report overview ranks 178 economies on the ease of doing business based on 10 indicators of business regulation. The top-ranked countries in Sub-Saharan Africa are Mauritius (27), South Africa (35), Namibia (43), Botswana (51), and Kenya (72). The rankings track indicators of the time and cost to meet government requirements in business start-up, operation, trade, taxation, and closure.
The top 10 reformers globally are, in order, Egypt, Croatia, Ghana, FYR Macedonia, Georgia, Colombia, Saudi Arabia, Kenya, China, and Bulgaria. Reformers made it simpler to start a business, strengthened property rights, enhanced investor protections, increased access to credit, eased tax burdens, and expedited trade while reducing costs. Worldwide, 200 reforms - in 98 economies - were introduced between April 2006 and June 2007.
See also http://go.worldbank.org/0YHU8F4UL0
About Carole Kimutai
Carole Kimutai is a writer and editor based in Nairobi, Kenya. She is currently an MA student in New Media at the University of Leicester, UK. Follow her on Twitter at @CaroleKimutai.
