Kenya has moved 5 places to 56 among 190 nations in the World Bank’s ease of doing business ranking released on Thursday on the back of an improved environment in dealing with construction permits, registering projects, getting credit, protecting minority investors.
However, “Registering property in Kenya was made more difficult because of an additional payment slip generation and increased online consent application and title search fees,” the World Bank Group’s Doing Business 2020 study said.
“Kenya is among top reformists in Africa and the World. This takes good leadership and coordination between agencies,” said Augustine Langyintuo of World Bank finance competitiveness and innovation regional focal point.
Kenya’s Deputy President William Ruto said the government will continue investing in systems that will make Kenya even more attractive, as the country targets a top fifty position.
“We are certain Kenya has to adopt a robust regulatory framework and improve the business environment much further. This will help attract investors, ” the DP said in Nairobi on Thursday when he officially launched the World Bank ease of doing business index.
✓ Dealing with construction: permits Kenya made dealing with construction permits more transparent by making building permit requirements publicly available online, and by reducing fees.
✓ Getting electricity: Kenya improved the reliability of electricity supply by modernizing its existing infrastructure and by inaugurating a new substation in Nairobi.
× Registering property: Kenya made property registration more difficult because of an additional payment slip generation and increased online consent application and title search fees. At the same time, property registration was made faster by moving consents to transfer and payment verification online.
✓ Getting credit: Kenya strengthened access to credit by introducing online registration, modification and cancellation of security interests, and public online searches of its collateral registry.
✓ Protecting minority investors: Kenya strengthened minority investor protections by requiring shareholders to approve the election and dismissal of an external auditor.
✓ Paying taxes: Kenya made paying taxes easier by implementing an online filing and payment system for social security contributions.
✓ Resolving insolvency: Kenya made resolving insolvency easier by improving the continuation of the debtor’s business during insolvency proceedings.
The latest reforms are in the Doing Business areas of Starting a Business, Dealing with Construction Permits, Trading Across Borders and Resolving Insolvency.
Doing business ranking is based on quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.