Doing business in Rwanda is likely to be much easier thanks to reforms recently introduced by the government. Paving the road to a better trade exchange, the reforms will facilitate the life of many entrepreneurs. If you were about to turn your idea into a business, this may be just the right time.
According to the World Bank report, Rwanda is the easiest place to do business in East Africa and the fourth best in Africa after Mauritius, South Africa, and Botswana respectively. In early May this year, the government disclosed important measures that would boost trade and possibly push Rwanda in an even better position than the one it currently holds.
The 2011 Doing Business results are a statement of our consistent efforts to empower our local and foreign entrepreneurs. We are determined to work alongside investors to make sure we do all we can to make Rwanda a great place to do business and unleash the country’s full potential, therefore we are relentless in ensuring continuous reforms like these ones” says COO of the Rwanda Development Board, Claire Akamanzi.
So be it. The introduced reforms will make it easier to start a business, conduct cross border trade, register property and deal with construction permits.
But this is not everything. In order to facilitate trade, several previous requirements such as a tax clearance certificate have been eliminated with others merged or rendered optional so as to reduce time spent seeking documentation and make the procedure easy. In addition, free online registrations will also ease the whole process. A considerable step in reducing time waste and administrative headaches.
According to the Rwanda Development Board, these four fundamental reforms will come as a relief to most Small and Medium enterprises (SMEs) enabling them to formalize their businesses.
Expect Rwanda to boost its performance in the annual World Bank’s Doing Business ranking. The country is paving the way to sustainable trade and a flourishing, supportive environment for entrepreneurs. And with a goal in mind to be ranked among the top 30 economies to be the easiest for business making, it looks like Rwanda is leaving an important print on the African Economy’s map.
