Kenya pledges more reforms to make doing business easier
28 October 2015, 21:28
Nairobi - Kenya will strengthen its judiciary and take steps to
safeguard private holdings in order to boost the business environment and
attract new investments, its deputy president said on Wednesday.
"We will continue strengthening crucial institutions
such as the judiciary to ensure that business disputes are resolved in the
shortest time possible," William Ruto told a ceremony to welcome the
country's improvement in the World Bank's survey.
The country has jumped 28 places in the World Bank's latest
annual Ease of Doing Business Index, albeit to 108 globally, boosted by reforms
in areas such as registration of properties and businesses.
Investors, who have been piling into Kenya in recent years,
drawn by growing consumers and fairly robust economic expansion, complain that
high costs of doing business and red tape, usually curb their growth plans.
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Ruto said the strengthening of the judiciary will send out a
signal to investors that the government was committed to protecting them,
through ensuring contracts are enforceable, in order to attract even more
During this year's assessment, Kenya improved its scores in
the areas of connecting a business to electricity, registering property,
accessing credit and securing permits for a business.
Adan Mohamed, the minister for industrialisation and
enterprise, said he expected further reforms completed after the survey was
done in May, to help the country do even better next year.
Kenya passed a new companies law, after 50 years of trying,
as well as another law to govern the insolvency of businesses, the minister
"It is a momentum that we just need to build on. We
have got our plans ready and we are destined to get to position 50 in the next
three to four years," Mohamed said.
Improvement of the business sector was vital to the
government of President Uhuru Kenyatta, which was elected in March 2013, as it
seeks to attract investments, build a manufacturing base and create jobs,