Dar es Salaam, TANZANIA, Sept 9: African countries that have automated their processes have seen a marked improvement in the business environment, according to the Investment Climate Facility for Africa (ICF) report.
21 African governments, including Kenya, Tanzania, Uganda and Rwanda, have set up online business registration and licensing systems, online tax payment systems and electronic single window systems for trade that speed up the clearing of goods at Customs.
The Facility, which is a public-private initiative that seeks to improve the investment climate in Africa, highlights 73 reform initiatives that are making Africa a better place to do business.
A number of countries have also created electronic land registration systems and set up electronic systems for commodities trading, which had led to a closer and more efficient partnership between the public and private sector.
ICF Chairman, Neville Isdell says the establishment of commercial courts and arbitration courts has helped to resolve commercial disputes quickly and transparently.
“That ICF has played such an important role in galvanizing the transformation of the continent’s investment climate is a source of great pride. We are confident that our legacy – the blueprint for public-private partnership that we leave behind – will allow others to build their own success long after our departure,” said Neville Isdell.
ICF Co-Chair and Former President of the Republic of Tanzania, H.E. Benjamin Mkapa, said ICF was set up to prove that investment climate reforms can be done quickly, using little resources while creating great impact for the private sector, governments and countries in general.
“We have done this. We have shown that it is possible. Now it is up to African countries to follow the example set by ICF and to pursue greater investment climate reforms that will spur Africa’s development and unleash the entrepreneurial spirit of its people,” said Mkapa.
Efforts made by African countries to improve their business environments have been recognized by the World Bank in its annual Doing Business Report, which ranks how easy it is to do business in different countries.
Over the past nine years, many countries have improved their rankings, including Cape Verde, Burkina Faso and Rwanda. The 2016 Doing Business Report ranked five African countries amongst the top ten improving nations, with sub-Saharan Africa alone accounting for roughly 30 percent of all regulatory reforms that make it easier to do business.