Kenya has improved by moving 21 places in ease of doing business. This is according to the latest global index.
The Doing Business 2017 report released on Tuesday showed that Kenya was placed at position 92 out of 190 countries surveyed, with Mauritius and Rwanda outpacing Kenya at 49th and 56th place respectively.
New Zealand replaced Singapore this year as the easiest place in the world to do business.
Kenya’s improvement was credited to five reforms in the areas of starting a business, obtaining access to electricity, registering property, protecting minority investors and resolving insolvency.
“This is a marathon and we will not be complacent until we attain position 50 by 2020,” said Industrialisation Cabinet Secretary Adan Mohamed in Nairobi while welcoming the results of the report.
Kenya was also ranked as the world’s third most reformed country.
In its global country rankings of business efficiency, the World Bank awarded its coveted top spot to New Zealand, with Singapore ranking second, followed by Denmark, Hong Kong, China and the Republic of Korea.