You may not be aware of this, but according to a report compiled by the World Bank the South African business progression has slackened a bit.
The World Bank’s Doing Business report is used to compare business progression between 190 economies. Within the report it is indicated that Sub-Saharan Africa’s business has improved tremendously, with Nigeria and Togo at the top of the chart.
The report brought to light the fact that South Africa is lagging in trade facilitation and business incorporation, ranking 145th across borders. It is also stated that the country’s Durban port handling rates are expensive compared to those of other bordering countries.
However, it’s not all gloom in the business sector, because while business progression has slackened a bit efficiency and quality have improved remarkably.
A specialist from the World Bank stated that despite the drop-in ranking, South Africa’s overall business environment has improved. Yes, you heard that right—South Africa’s business quality score has increased from 66.7 to 67.
So, what does that mean you ask? Well, let me tell you, it means that it has become easier for local investors to do business now. Who knew that in making business slower, South Africa was focusing on making business easier to perform and flourish?
Tebogo J. Mphatswe