In 2017, Zambia climbed up from 98 to 85 on the 2018 World Bank’s Ease of Doing Business Rankings. The country was also in seventh position on the Top-10 reformers, with Brunei leading at one.
Over the course of the last year, Zambia implemented three reforms that helped making business easier in Lusaka. The reforms were in the areas of getting credit, paying taxes and trading across borders.
The country introduced an online platform to make tax payment easier. Import and export of goods and services were also facilitated thanks to implementation of ASCUDA World.
According to Commerce Trade and Industry Ministry Permanent Secretary Kayula Siame, the Government was very proud at the ranking showing that Zambia’s efforts are producing results. He also added that the ranking showed the support of the Government to the private sector in driving economic growth.
Sub-Saharan African countries implemented more reforms showing that low-income countries were committed to change improving their business environment. Better business regulations were paramount to fostering more job opportunities.
“The ease of access to credit was important to attracting the private sector”, said World Bank Group resident Madalo Minofu. He added that this showed positive prospects on Zambia’s economy.
Mr, Mushuma Mulenga, Cabinet Office national coordinator, said that the Government implemented several reforms including decentralisation in the energy sector, land administration and other measures that were anchored on the Seventh National Development Plan (7NDP).
The Government is targeting to reach number 50 on the Ease of Doing Business Rankings in the next five years.
