Rwanda has presented remarkable progress in this year’s World Bank Doing Business Report.
Rwanda is ranked 56th globally in 190 countries up from 62nd last year.
On the African continent, Rwanda is the 2nd place coming 7 positions closer to Mauritius, first on the continent and 49th globally.
The expedient growth in Rwanda with significant progress across all key sectors is characterised by progress in various aspects including: transparency, accountability and strategic channelling of investments in the right direction to maximise impact.
The country achieved tremendous improvement specifically in the service industry where it is ranked 2nd globally in credit financing and 4th globally in property registration.
Commenting on the report, the Chief Executive Officer of the Rwanda Development Board, Francis Gatare said that over the past few years, Rwanda has focused on optimising the service industry and capitalising on investment opportunities that promote long-term sustainable growth.
“We also continue to harness the role of the private sector in accelerating economic growth to make the country even much easier and conducive in conducting business. However, we would not have achieved these advancements without the support of our stakeholders, whose social and financial support has played a key role in this landmark achievement.”
According to the World Bank Doing Business Report the following indicators triggered Rwanda’s remarkable rise:
In starting business, Rwanda made business easier by improving the online registration one-stop shop and streamlining post-registration in particular putting VAT registration online
In registering property, Rwanda made it easier to register property by introducing effective time limits and increasing the transparency of the land administration system
In trading across borders, Rwanda made trading across borders easier by removing the mandatory pre-shipment inspection for imported products.
In enforcing contracts, Rwanda made enforcing contracts easier by introducing an electronic case management system for judges and lawyers.
The 2017 World Bank report also introduced a gender dimension that measures equality of ownership between men and women in registration, ownership and rights to business.
From the reports’ observation Rwanda features all the three elements for both men and women having in mind that Rwanda has a gender equality principle that provides for the minimum of 30% quota for women in all decision making positions.