Kenya drops in Business Destination Ranking.

17 Aug

Kenya droped three positions according to the World Bank. This is from a high last years 95 to the current 98.

Slow licensing processes, complex taxation and high cost of regestering property caused this major drop.

When Kenya is compared to Rwanda which ranked 58 from last years 67, Rwanda becomes East Africa’s prefered destination. As an example, it takes only 11 days to register a business in Rwanda compared to the 33 days need in Kenya. Kenya also takes up 49.7% of a company’s profit compared to 31.3% in Rwanda.

In general if East Africa was to adopt the best business practises it will be ranked at position 18, becoming one of the top global performers.

This is contained in a report released by the World Bank in Arusha, this week.

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