Rwanda Tops Africa in World Bank’s Business Ready 2024 Report

Washington D.C., USA – The World Bank has released its inaugural Business Ready 2024 report (B-READY), assessing the business and investment climate across 50 economies. Rwanda emerged as Africa’s leader, ranking 17th globally in regulatory frameworks, 8th in public services, and 3rd in operational efficiency.

The B-READY report replaces the previous “Doing Business” project and aims to facilitate private investment, generate employment, and improve productivity for inclusive and sustainable development.

The report evaluates countries under three key pillars:

1. Regulatory Frameworks: Assessing business regulations, laws, and institutions.
2. Quality of Public Services: Evaluating public services, infrastructure, and administrative efficiency.
3. Operational Efficiency: Examining factors affecting business operations, such as logistics and technology.

Rwanda’s impressive performance was followed closely by:

– Togo (2nd in Africa, 25th globally in regulatory frameworks)
– Morocco (3rd in Africa, 30th globally in regulatory frameworks)
– Mauritius (4th in Africa, 35th globally in regulatory frameworks)

The list below shows how African countries performed under each heading.

Top Performers in Regulation, Public Services, and Operational Efficiency

Here are the top African countries in each category:

– Regulation: Rwanda, Togo, Morocco, Côte d’Ivoire, and Ghana
– Quality of Public Services: Rwanda, Morocco, Mauritius, Tanzania, and Togo
– Operational Efficiency: Rwanda, Mauritius, Botswana, Lesotho, and Togo

Expert Insights and Analysis

“The B-READY report highlights Rwanda’s commitment to business reform and investment attractiveness,” said Dr. Emmanuel Mutahunga, Rwandan economist.

Future Outlook for African Economies

The report’s findings suggest a positive trajectory for African economies, driven by:

– Improved regulatory frameworks
– Enhanced public services
– Increased operational efficiency

As African nations continue to implement business-friendly policies, the continent is poised for increased investment and economic growth.