NO BETTER PLACE ON THE AFRICAN MAINLAND BUT RWANDA TO DO BUSINESS WITH
(Posted 25th October 2016)
Rwanda once again presents remarkable progress in the World Bank’s Doing Business Rankings by scoring 56th position from 62nd position out of 190 countries in the 2017 report. In Africa, Rwanda is ranked the 2nd easiest place to do business coming 7 positions closer to Mauritius, ranking on the first spot in Africa and 49th globally.
The expedient growth in Rwanda with significant progress across all the key sectors is characterized with progress achieved through transparency, accountability and strategic channeling of investments in the right direction to maximize impact. The country has achieved significant improvements specifically in the service industry ranked 2nd in the world in credit financing and now 4th globally on registration of property.
According to the World Bank Doing Business Report the following indicators triggered significant improvements in the country:
1. 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.
2. In registering property, Rwanda made it easier to register property by introducing effective time limits and increasing the transparency of the land administration system
3. In trading across borders, Rwanda made trading across borders easier by removing the mandatory pre-shipment inspection for imported products.
4. 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.
TOP 5 SUB-SAHARAN AFRICAN COUNTRIES
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Commenting on the report, the Chief Executive Officer of the Rwanda Development Board Honorable Francis Gatare said, ‘Rwanda over the past few years has focused on optimizing the service industry and capitalizing on investment opportunities that promote long term sustainable growth, owing to the significant advancement of 56th position from 62nd position globally‘. He added that, ‘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 impact has been greatly realized in the country, we shall therefore continue to stretch our borders and ensure that strengthening the regional economy is at the centre of Rwanda’s sustainable development making Africa an investment hub as a whole‘.
Notably has tourism become the main pillar of foreign exchange earnings and visitor numbers have steadily increased over the past years, ignoring the trend for the rest of sub Saharan Africa.
The launch of a new convention centre in Kigali and two new hotels and the relentless march of RwandAir into the continental big league are credited with the sharp rise in MICE business and cementing Rwanda’s reputation as one of Africa’s safest destinations to visit.
For more information about Destination Rwanda click on www.rwandatourism.com