Kenya climbs ranks in ease of doing business

A hawker going about his business in Nairobi. The BBI report has proposed to exempt young business owners from paying taxes for 7 years PHOTO: COURTESY.

Nairobi, KENYA: Kenya has risen from position 80 to 61 in terms of World Bank ease of doing business ranking.

The new ranking has earned the country a spot among the global top improvers for the fourth time in the past 11

“In recent years, Kenya has embraced a strong reform agenda aimed at boosting investment and creating jobs. During this past year, Kenya has once again showcased itself as one of the global leaders in adopting international best practices in business regulation,” said the report

Services such as online fee payments and registration of properties which has seen property transfer process reduce to 49 days from 61 days has greatly boosted the new ranking, that is according to the annual World Bank report on a country’s ease of doing business, that was released on Thursday.

“While this is a great accomplishment which we must celebrate, I also encourage the government to persist in its efforts to address the remaining hurdles that affect the establishment and growth of SMEs in the country, a segment that is critical to the creation of more jobs and opportunities for Kenyan youth,” said World Bank Kenya Country Director Felipe Jaramillo.