Kenya 3rd globally among most improved countries on ease of doing business in World Bank report

Kenya has been ranked third globally among the most improved countries on ease of doing business according to the World Bank’s Doing Business Report, 2016.

The Report, which was released at a Nairobi hotel during a function presided over by Deputy President William Ruto on Wednesday, confirms Kenya as the most improved country globally.

In a move indicating good tidings for Kenya’s local entrepreneurs and investment climate, Kenya has risen 28 places to 108 from 136 it attained last year.

This comes in the wake of implementation of four key areas by the Government that has made it easier to do business in the country.

Industrialization Cabinet Secretary Adan Mohammed said Kenya has instituted reforms in the areas of getting credit, reduction of electricity, starting business and faster and transparent registration of property.

“Getting electricity, credit, starting business and transparent registration of property have made it easier to do business in Kenya. This situation has attracted local and foreign investors,” said Mr. Mohammed.

World Bank Group Regional Director East and Southern Africa Director Oumar Seydi hailed the steps being taken by Kenya in improving its economic situation.

“On behalf of the World Bank Group, I wish to commend Kenya for the tremendous reforms it has undertaken that have made it easier to doing business in the country,” said Mr. Seydi.

He went on: “The digitalization of process in the registration of property has for instance has made it easier and efficient. This can attract investments into the country.”

 Mr. Seydi said World Bank Group would continue working closely with Kenya in accelerating the development process with a view to improving the living standards among its people.

  Mr. Ruto said the Government is committed to improving the business environment to attract investment, create jobs and wealth.

 “We seek to position Kenya as the continents' manufacturing and technology hub, the preferred gateway to Africa for domestic and foreign investors,” said Mr. Ruto. 

 “These noble ambitions have in the past been undermined by unfavorable business environment which has hindered Kenya’s goal,” he added.

 The Deputy President said the Government has put in place an elaborate programme to make Kenya's business sector more productive and globally competitive. 

 “We have registered improvements in starting a business by making it easier to assess and pay stamp duty,” he said.

 He went on: “We have reduced days for new electricity connections by enforcing service delivery timelines and hiring contractors for meter installation.”

 Mr. Ruto said the country has made property transfers faster by improving document management at the land registry and introducing unified form for registration.

 “We have improved access to credit information by passing legislation that allows the sharing of positive information and expanding borrower coverage,” said the Deputy President.

 “Am pleased Kenya is the now the 3rd most improved country globally on the 2016 doing business rankings,” he added.

 Thee Deputy President said the Government is committed to implement the required reforms to further improve the business environment in the country.

 “We are aware of the need to enhance our commitment to investor protection to attract investments,” said Mr. Ruto.

 The Deputy President said the Government will regularly monitor progress and resolve any emerging issues to ensure that the ease of doing business is delivered.

 “As investment flows seek new locations, Africa is their natural home. First movers in creating an enabling environment in the Continent will be the winners,” said Mr. Ruto.

 The Deputy President also told public officers to improve in service delivery.

 He said public officers must perform their duties as mandated by the constitution.

 Department for International Development (DFID), Kenya Country Representative Lisa Philips hailed the steps being taken by Kenya to improve its economic situation.

 “It is impressing that Kenya has taken steps to create an enabling environments for both local and foreign investors,” said Ms. Philips.

 “An enabling environment in this country has led to increase in foreign and local investments as well as creation of job opportunities,” she added.

 She said the ongoing crusade by the Government in the fight against corruption was commendable.

 Kenya Private Sector Alliance (KEPSA) CEO Carole Kariuki called for closer working relationship between the Government and the private sector in the development process.

 “We will continue to engage with the Government on matters of development so as to create more employment opportunities and reduce poverty levels,” said Ms. Kariuki.