07 Jan Rwanda crowned best country for doing business in Africa
Rwanda has been named the best country in Africa for doing business by the 2019 World Bank Ease of Doing Business report, in conjunction with Africa.com.
The East African nation’s economy is expanding on par with the fastest in Africa, with an average annual growth rate of 6% since 2000, and was ranked by the World Bank as more conducive to business than Spain, Russia and France.
The World Bank said that digitisation was the major positive factor that ensured Rwanda’s position as a continental leader in ease of doing business. “Digitisation was a common theme among the business regulatory reforms recorded by [sub-Saharan economies],” said the bank.
“Rwanda streamlined the process of starting a business by replacing its electronic billing machine system with new software that allows taxpayers to issue value added tax invoices.
“The free software, which is provided by the office of the Revenue Authority, allows taxpayers to issue value added tax invoices from any printer, eliminating the previous requirement to purchase and set up a special billing machine.”