The British High Commission in Nairobi have celebrated Kenya’s 19 place move up the latest Ease of Doing Business rankings to 61st place.
In a statement on their Facebook page, the High Commission said:
“The UK Government is committed to supporting Kenya to improve its business environment, to encourage new businesses and support increased investment. This includes from UK firms, with high ethical standards; the UK is already the largest cumulative investor in Kenya, but we want to see our trade relationship continue to flourish. A better business environment in Kenya, leading to new businesses growing and increased investment, means more jobs and opportunities for all Kenyans, including the youth.
“We’re supporting initiatives to help break down barriers to trade e.g. by speeding up processes at ports and borders, and ease of doing business initiatives such as the development of special economic zones. We’re also committed to supporting Kenya in the fight against corruption, including through the return of proceeds of corruption agreement our Prime Minister signed with President Kenyatta earlier this year.”
Kenya’s improved standing makes it the seventh most improved globally and increases its attractiveness to investors. In the Sub-Saharan region, Kenya is third, behind Mauritius and Rwanda who are ranked 20th and 29th respectively overall.
Speaking at the East of Doing Business event in Kenya yesterday, Department for International Development Country Director Sarah Montgomery described the country’s improvement as a “fantastic result”, adding “it shows what concerted, coordinated efforts between the government, private sector and development partners can achieve.”
The ease of doing business report is a benchmark study of regulation. Designed by the Doing Business team with assistance from academic advisors, the survey consists of a questionnaire which concentrates on a simple business case that ensures comparability across economies and over time.
It also bases assumptions on the legal form of the business, size, location, and nature of its operations and while it is meant to measure regulations directly affecting businesses, it does not directly measure more general conditions such as a nation’s proximity to large markets, quality of infrastructure, inflation, or crime.