Kenya Sustainin Gains to Keep Investors
Posted on : Tuesday , 3rd November 2015
It has recorded remarkable improvement in the world's ranking of best destinations for doing business.
The latest edition of the Ease of Doing Business report published by the World Bank and released this week has listed Kenya in position 108, up from the previous 136, making it one of the three most improved countries in the world.
Essentially, the jump is attributed to the Huduma Centres initiative, which has brought together government services like registration of companies under one roof and emphasised speed and efficiency.
Ease of doing business is a critical factor in economic growth.
Investors are attracted to countries where they can quickly set up shop and where the trading regime is facilitative rather than obstructive.
However, the good news needs to be understood within the right context.
The assessment is based on the 2014/15 financial year, hence does not reflect the prevailing socio-economic conditions.
Currently, the government is grappling with a crippling financial crunch, rising taxation, galloping interest rates, industrial unrest, stagnating infrastructural development, and widespread corruption.
Clearly, these negate the achievements realised in improving the business environment.
The challenge for the country is to consolidate the gains made in relaxing the environment for doing business while aggressively and systematically eliminating negative variables such as corruption, oppressive laws, ineffective policies, and political interference.
There is evidence that the country has the potential to improve the business environment, attract investment, and boost the economy.
The challenge is consistency and sustainability.
EXPOGROUP Supports The “ GO GREEN ” campaign across the globe. Grow a plant every weekend and enjoy it grow !
