Cameroon has improved its position on the classification table of countries that have implemented regulatory reforms to improve their business environments, according to the eighth edition of Doing Business 2011 report published on Thursday, November 4, by the International Financial Corporation, IFC, and the World Bank under the theme “Making a Difference for Entrepreneurs”. Cameroon won five points at the classification, moving from the 173rd position to the 168th out of 183 countries evaluated. The results were released last Thursday in a video conference anchored from the World Bank’s headquarters in Brettonwoods and followed in Cameroon at the World Bank’s office in Yaounde by the interim Director of Operations, Raju Singh, the representative of the Prime Minister and Head of Government, Professor Touna Mama and several guests from the private sector, the civil society and the media.
Reacting to the news, Professor Touna Mama said the improvement of Cameroon’s position was as a result of the personal involvement of the Prime Minister and Head of Government who gave priority attention to the implementation of recommendations of the Cameroon Business Forum that held on February 18, 2010. Since the forum, he continued, Cameroon had implemented at least 27 reforms among which is a one-stop shop for the creation of businesses, the law on small and medium size enterprises and the simplification of procedures for obtaining building permits in Yaounde and Douala. He also told the audience watching from five different African countries that Cameroon intends to go further by implementing more reforms like reducing delays at the Douala Seaport and facilitating access to loans.
Doing Business 2011 hailed 117 economies around the world for carrying out 216 regulatory reforms aimed at making it easier to start and operate business, strengthening transparency and property rights as well as improving the efficiency of commercial dispute resolution and bankruptcy. For the fifth year running, Singapore leads in the ease of doing business, followed by Hong Kong SAR, China, New Zealand, the United Kingdom and the United States of America.
Sub-Saharan Africa received kudos from the Head of the Doing Business Project, Sylvia Solf who said 27 economies in sub-Saharan Africa had implemented 49 regulatory reforms. For the third year in a row, Mauritius ranks highest in the region occupying the 20th position among 183 countries. Rwanda, Cape Verde and Zambia fell among the 10 economies worldwide that improved the ease of doing business most for local firms in the past year. Ghana led the world in making it easier for businesses to obtain credit while Malawi was also recognised for improving contract enforcement. The views of most of the World Bank officials participating at the video conference seemed to converge on the fact that sub-Saharan Africa was making a lot of progress and would perform even better in the next classification due next year.
