In the past year, the majority of sub-Saharan African economies implemented a record number of reforms to improve the business climate for local entrepreneurs.
The World Bank’s latest annual Ease of Doing Business report shows that it now takes an average of 27 days to start a business in the region, compared with 37 five years ago.
According to a CNBC Africa report, sub-Saharan Africa also accounts for 18 of the 24 reforms globally in resolving insolvency, where countries such as Benin, Burkina Faso and Mali have made it easier by introducing a new conciliation procedure for companies experiencing financial difficulties.
The report also shows that seven economies implemented reforms relating to trading across borders, while Mauritius once again ranks best overall in the region for doing business; Kenya is among the global top 10 improvers for a second time; and Rwanda is one the best worldwide in terms of securing credit and registering property.
