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Rwanda is the World’s Top Business Reformer

db10_coverRwanda is the first sub-Saharan African economy to lead the world in business reforms, according to a recent report by The Doing Business Project.  The annual report is published by the International Finance Corporation (IFC).

The country has seen steady improvement in its commercial laws and institutions over the last 8 years.  In 2008 it introduced a new company law that simplifies starting a business and strengthens minority shareholder protections.  The new law improves application procedures and allows entrepreneurs to start a business with 2 procedures inside of 3 days.

According to the Doing Business Project, Rwanda has also enacted new laws that ease access to credit.  Other reforms removed bottlenecks at the property registry and the revenue authority, reducing the time required to register property by 255 days.  Overall, Rwanda introduced reforms in 7 out of the 10 categories considered in the rankings.

Mauritius held its position as Africa’s easiest place to do business followed by South Africa, Botswana and Namibia.  Mauritius passed a new law that creates a special commercial court designed to simplify property transfers and expedite trade processes.

Other African Countries cited for reforms include Liberia, Egypt, Angola, Cameroon, Ethiopia and South Africa.

About Doing Business Project

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