2008 business ranking: Four African countries rated high

2008 business ranking: Four African countries rated high

Three African countries, Senegal, Burkina Faso, and Botswana, are among the world’s top 10 reformers of business regulations this year, according to a World Bank report. The report, released on Wednesday in Abuja, ranked Nigeria 118 among the 181 countries surveyed on the ease of doing business and 91 on the ease of starting a business.

According to the report, it takes 31 days to start a business in Nigeria. The “Doing Business 2009 Report’’ said Africa had a record year for regulatory reforms with 28 countries completing 58 reforms which focused on easing business transactions.

The report identified the top 10 as Azerbaijan, Albania, the Kyrgyz Republic, Belarus, Senegal, Burkina Faso, Botswana, Colombia, the Dominican Republic and Egypt.

The report, the sixth in the annual series, said post conflict countries like Liberia, Sierra Leone and Rwanda were among Africa’s most active reformers in 2008.

According to the report, Senegal made it easier to start a business, register property, and trade across borders.

Burkina Faso, it said, introduced a new labour code and reforms for registering property, dealing with construction permits and paying taxes.

“Botswana cut the time to start a business, facilitated trade, and strengthened investor protections, ‘’ the report added.

“With more reforms of business regulations in Africa than in any previous year, we are seeing many countries get inspiration from their neighbours about how to reform.

“Increasingly, countries in the region are committing to reform agendas that make it easier to do business,’’ Sabine Hertveldt, a co-author of the report, said.

“Among regions, Eastern Europe and Central Asia led in reforms of business regulations for a fifth consecutive year, with more than 90 per cent of its countries making improvements,’’ it said.

Mauritius, the report noted, ranked highest in Africa on the ease of doing business.

“Mauritius moved up to 24 in the global rankings on the regulatory ease of doing business and continues to provide inspiration for reform and good practices to other economies across Africa,’’ the report said.

South Africa at 32, was the runner-up in the overall rankings followed by Botswana at 38.

Singapore led the global rankings on the overall regulatory ease of doing business for a third consecutive year, followed by New Zealand with the U.S. placing third.