Sub-Saharan Africa 'improving business regulation' says World Bank

Sub-Saharan Africa continues to record a large number of reforms aimed at easing the regulatory burden on local entrepreneurs, the World Bank's 2014 Doing Business report released today reveals.

The report's data shows that, of 47 economies in the region, 31 implemented at least one business regulatory reform in 2012/13.

Rwanda, Côte d'Ivoire, and Burundi were among the 10 economies globally improving business regulation the most.

Of the 20 economies improving business regulation the most since 2009, nine are in Sub-Saharan Africa: Burundi, Sierra Leone, Guinea-Bissau, Rwanda, Togo, Benin, Liberia, Côte d'Ivoire, and Guinea.

"It is encouraging to see so many countries in Sub-Saharan Africa engaged in reforms aimed at reducing burdensome regulations and building up stronger legal institutions. In 2012/13, more than twice as many economies in the region reformed as in 2005," said Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group. "Despite these achievements, more can be done to improve the quality of the rules underpinning the activities of the private sector, to ensure continued convergence toward the better practices seen elsewhere in the world."

Image: © Thinkstock

Copyright is owned by Africa Outlook and/or Outlook Publishing. All rights reserved.