Kenya’s ranking in ease of doing business in recent years has been impressive. The World Bank’s recent rating put Kenya at position 56, a significant improvement from number 136 six years ago — posting one of the most improved countries in Africa and globally. The country leads her peers in the region and Uganda, our biggest trading partner, is ranked at position 116 with Tanzania ranking poorly at position 141. We are ahead of other African economic giants such as South Africa and Nigeria that are ranked positions 82 and 131, respectively. Although Kenya’s good ranking directly results from vibrant measures she has introduced to cut down bureaucracy in the government in the recent years, we can still post better results and reap benefits by initiating several quick fixes. Things are not very rosy at the moment because of the shrinking manufacturing index, high-cost of electricity, high corruption and high tax regime, which have made experts to warn that the good ranking may deteriorate to oscillate around 60 in 2021 and 80 in 2022. One of the critical lessons the country has learnt during the Covid-19 pandemic is the need to leverage on Information and Technology to do business. The government should encourage all its key agencies to automate and also create collaborative mechanisms with the private sector, which have also made huge strides in automating their processes and operations. Critical departments that have automated their operations have vital lessons to offer. For instance, Kenya Revenue Authority (KRA) is rolling...
We must foster conducive business environment
Posted on: May 25, 2021
Posted on: May 25, 2021