November 8, 2017 - Ethiopia’s rank on the World Bank’s ease of doing business index, prepared by World Bank, has not changed for another year and it now ranks 161 out of 190 countries, reports Addis Fortune. The report is said to provide comparative overview of the business climate in the 190 nations that are included in the report.
The report is based on several factors that affect how easy or difficult it is to start and run business. At 161 ranking, Ethiopia is one of most difficult countries in the world to start and run a business. This is despite the country's ambition to transform itself into middle class economy by 2025. Such business climate can hardly support this lofty objective.
Ethiopia did not make much improvement in the last 7 years when it started facilitating business. To the contrary, it's rank fell from 104, where it stood back in 2010, to 161 where it stands now for 2 consecutive years.
According to the report, it is easier to undertake business in Rwanda and Kenya that are ranked 41 and 80 respectively. The report further read that Ethiopia was the 16th and 17th worst country in the world to start a business and to get credit, respectively.
Source: Addis Fortune