Sunday, September 30, 2007

Business reforms making stride in Kenya and Ghana

Africa: Kenya, Ghana Are Top Business Reformers
Africa: Doing Business 2008: Ghana and Kenya Set Pace of Reform on Continent, Mauritius Is Region's Easiest Place to Do Business

According to a recent World Bank and International Finance Corporation report, “Doing Business 2008,” a number of African countries have reformed their legal business requirements, making it easier to “start a business, gain access to credit, and ease tax burdens.” Kenya and Ghana top the list of African countries that have made the largest reforms in their business practices this year. Additionally, Mauritius was ranked the most business-friendly country in Africa.

These reforms are designed to increase the ease of doing business in Africa. They have made it “simpler to start a business, strengthened property rights, enhanced investor protections, increased access to credit, eased tax burdens, and expedited trade while reducing costs.” Small, informal business will benefit most from these reforms. It is hoped that these reforms will create incentives for small and medium-sized entrepreneurs to formalize their businesses, which will help the country to gain overall economic growth

In order, the top 10 reformers globally are: Egypt, Croatia, Ghana, FYR Macedonia, Georgia, Colombia, Saudi Arabia, Kenya, China, and Bulgaria.

Discussion question:
Will these reforms encourage local and foreign investors to invest in African businesses?

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