RDB CEO Francis Gatare joined the panel to speak about Rwanda’s reforms in doing business over the past two decades.
Rwanda has once again demonstrated its commitment to business excellence, achieving impressive results in the newly launched World Bank Business Ready (B-READY) Report unveiled today, solidifying its position as a leading investment destination in Africa.
The first edition of B-READY assessed the business environments of 50 global economies, focusing on three pillars – regulatory frameworks, public service delivery, and operational efficiency, and has ten indicators, which include Business Entry, Business Location, Utility Services (water, electricity, and internet), Labour Force, Financial Services (access), International Trade, Taxation, Disputes Resolution, Market Competition (Public Procurement), and Business Insolvency.
Rwanda is among the top performers in several key areas, demonstrating the country’s sustained drive to enhance its business environment and foster a welcoming climate for investors.
The 2024 B-READY Report shows that Rwanda ranks among the best performing countries in the world based on different indicators, including Operational Efficiency, where the country came in 3rd globally, scoring 81.31 in Operational Efficiency and 67.37 in Public Services, emerging 8th globally.
Rwanda achieved a 70.35 score in Regulatory Framework, making it the17th globally ranked country on that indicator. These scores position Rwanda as one of the top-performing countries globally, and the top performing country in Sub-Saharan Africa.
Key Highlights of Rwanda’s Performance
Operational Efficiency: Rwanda remains one of the fastest countries in Africa and globally for company registration. This efficiency stands in contrast to global averages of 32 days for domestic firms and 39 days for foreign firms, reinforcing Rwanda’s position as a regional leader in ease of doing business.
Rwanda’s ranking affirmed the country’s continuous to implement key reforms in doing business.
Public Services: Rwanda’s digitization of public services has been a key driver of its strong performance. Systems like the Integrated Electronic Case Management System (IECMS) for the judiciary and the e-titles system for land services have streamlined processes, reducing both the time and cost of doing business. These innovations play a vital role in enhancing the overall business environment.
Regulatory Framework: Rwanda’s legal reforms continue to enhance its global competitiveness. Recent legislative efforts, including the 2021 Investment Promotion Law, the Company Law, and the Insolvency Law, have created a more business-friendly regulatory environment. Additionally, Rwanda’s commercial courts and streamlined processes for business registration and dispute resolution set benchmarks for the region.
Environmental Sustainability: The B-READY report highlights Rwanda’s leadership in integrating environmental sustainability into its business practices. Initiatives such as e-mobility and renewable energy demonstrate the country’s commitment to a green economy, positioning Rwanda as a leader in sustainable development across Africa.
Rwanda’s Strategic Reforms:
Rwanda’s success in the B-READY report is attributed to its long-term reform strategy, which began in 2008 with the creation of the Rwanda Development Board (RDB). Over the years, Rwanda has focused on administrative, legal, and digital reforms to enhance the business environment, attract foreign direct investment (FDI), and drive economic growth.
Rwanda also managed to make key reforms in different areas, including free online business registration, automated tax filing and payments, One-stop centre services for business permits and licences, support for foreign ownership and ease of profit repatriation and Electronic Integrated Case Management System, among others.
Gatare reiterated Rwanda’s commitment to continue making it easy for businesses and investments to thrive in the country.
Rwanda’s holistic approach to reform also prioritises good governance, macroeconomic stability, and anti-corruption measures, all of which have contributed to its favourable rankings in the B-READY report.
Looking Ahead
As Rwanda builds on these achievements, efforts are underway to further improve the business environment. Ongoing initiatives include the digitization of the One Stop Center, upgrades to business and mortgage registration systems, and the integration of trade services under a Single Transaction Portal.
Francis Gatare, CEO of the Rwanda Development Board, commented said Rwanda’s performance reiterates the country’s commitment to continuously improve the business and investment climate, as one of the ways to bolster economic development.
“Rwanda’s performance in the B-READY report reflects our unwavering commitment to creating a conducive environment for private sector growth and investment. These reforms are the foundation of our socioeconomic transformation, and we will continue to prioritise innovation, sustainability, and efficiency to attract investment and grow the private sector,” Gatare said in Washington D.C,.
“Every year, we continued to have a large menu of business reforms. Over the last 3 years, since the Doing Business report was discontinued, we continued to have our own reforms, and that reflects what you’re seeing today in the B-Ready report,” he added.
Tesi Rusagara, · Minister of State Public Investments and Resource Mobilization and Rwanda’s Ambassador to the US, Mathilde Mukantabana, attended the session in Washington DC.
The inaugural World Bank Business Ready (B-READY) Report assesses the regulatory environments, public service delivery, and operational efficiency of 50 economies globally.
The report also incorporates an environmental sustainability assessment, making it a comprehensive tool for guiding policy reforms and fostering economic development. The 2025 report will assess more than 100 economies and in 2026, the coverage will expand to about 180 economies.
