Corporate News
Malaba tops Kenya’s ease of business 2012 index
The World Bank’s ranking of selected cities and key towns shows that Malaba is the best place to do business in Kenya having toppled Narok, which held the position last year.
Posted Tuesday, June 26 2012 at 21:11
Kenya has in the past eight years reformed its business licensing regime culminating to the simplification or elimination of 694 out of the total 1,325 licences.
The effort has helped businesses to save Sh5.2 billion ($62 million) per year, according to the World Bank’s private financing arm the International Finance Corporation (IFC).
Prime Minister Raila Odinga said bureaucracy remained a major obstacle to doing business in Kenya.
“Position 109 is very bad and this is mainly due to rampant corruption, lack of access to finance and inefficiencies related to government bureaucracy,” he said.
Mr Odinga said it was not acceptable that Rwanda, which for many years suffered civil strife, can reform its business environment to the point of beating Kenya.
girungu@ke.nationmedia.com
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