World Bank
World Bank

Zimbabwe has improved its World Bank Ease of Doing Business rankings by climbing 15 places from 155 to 140 for 2020, making it to the exclusive list of top 20 reformers globally, the Chief Secretary to the President and Cabinet Misheck Sibanda has said.

He said the country’s improved performance was due to good performances on starting a business, streamlining approvals for construction permits and a reduction of business licensing fee by the Harare Municipality, the Herald reported Friday.

He said Harare also made property registration easier by reducing the time to transfer property and enhanced transparency by publishing official statistics on land disputes for the previous calendar year.

Zimbabwe, he said, strengthened access to credit by giving secured creditors absolute priority during insolvency proceedings and made resolving insolvency easier by introducing a new reorganization procedure, allowing creditors to vote on the re-organization plan and granting debtors the possibility of obtaining post-commencement finance.

He said the remarkable pace of reform was highlighted by the fact that in 2015 when the process started, led by the Office of the President and Cabinet (OPC), Zimbabwe ranked 171 out of 190 countries.

“In the face of a wide range of reforms and sub-Saharan Africa every year… the fact that Zimbabwe continues to register steady improvement in ease of doing business is testimony of the hard work of the technical working groups, Office of the President and Cabinet and the national coaches who have coordinated the reform effort as well as the World Bank Group which has provided technical, administrative and logistical support for the reform effort,” Sibanda said.

Sibanda said there was opportunity for the country to further improve on the rankings as a number of key pieces of legislation that lay the foundation for doing business reforms such as Movable Property Security Interest Act, the Insolvency Act and the Companies and Other Business Entities Act had already been enacted and just need to be implemented.

He added that the OPC was in the process of instituting various measures that will see doing business reforms continue to be prioritized. Enditem

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