Zim slips 4 places on doing-business ranking

Zimbabwe has slipped four places to 161 on World Bank’s ease of doing business ranking despite the country undertaking a number of reforms, a new report has shown. Last year, the country was ranked 157 out of 190 countries.

Source: Zim slips 4 places on doing-business ranking – NewsDay Zimbabwe October 27, 2016

BY BUSINESS REPORTER

According to the World Bank’s Doing Business 2017: Equal Opportunity for All report, developing countries carried out more than 75% of the 283 reforms in the past year, with sub-Saharan Africa accounting for over a quarter of all reforms. The report is the World Bank Group’s annual report on the ease of doing business
According to the report, Zimbabwe streamlined the building plan approval process, thereby, making it faster for those dealing with construction permits category.

The report said the country made registering property easier by launching an official website containing information on the list of documents and fees for completing a property transaction, as well as, a “specific time frame for delivering a legally-binding document that proves property ownership”.

Zimbabwe was lauded for improving access to credit by allowing the establishment of a credit registry.

The country, however, was found wanting on the trading across borders cluster after introducing “a mandatory pre-shipment inspection for imported products”.

The restrictions came as a result of the introduction of the Consignment Based Conformity Assessment.

The new ranking makes Zimbabwe the worst-placed country in southern Africa behind South Africa (74), Botswana (71), Zambia (98), Lesotho (100), Namibia (108), Swaziland (111), Malawi (133) and Mozambique (137).

It also comes after Zimbabwe has embarked on a number of reforms, with the Office of President and Cabinet in charge of the reform process with a target of attaining a ranking of below 100.

Recently, the government established a taskforce to spearhead the enactment into law of a number of Bills, as it quickens the ease of doing business reforms.

The Doing Business Legislative Reform taskforce is headed by Justice ministry permanent secretary, Virginia Mabiza and has representation from all relevant ministries and agencies, including the Parliament of Zimbabwe.

New Zealand was ranked first followed by Singapore, Denmark, Hong Kong SAR, China, Republic of Korea, Norway, United Kingdom, United States, Sweden and former Yugoslav Republic of Macedonia.

In sub-Saharan Africa, Mauritius was the highest ranked economy at 49th followed by Rwanda (56), Botswana (71) and South Africa (74).