By Alagi Yorro Jallow
The Gambia is ranked 146th among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of the Gambia deteriorated to 146th in 2017 from 145th in 2016.The Ease of Doing Business in The Gambia averaged 145.80 from 2008 until 2017, reaching an all-time high of 150 in 2013 and a record low of 135 in 2008.
The Gambia has remained 146th spot on the latest World Bank Ease of Doing Business ranking. The bank released the report themed ‘Doing Business 2019: A Year of Record Reforms, Rising’. In the 2017 edition of the report, The Gambia rank deteriorated to 146th in 2017 from 145th in 2016. The World Bank said it tracked 314 reforms by 128 governments across the world.
“Governments have the enormous task of fostering an environment where entrepreneurs and small and medium enterprises can thrive,” said Jim Yong Kim, World Bank Group president.
“Sound and efficient business regulations are critical for entrepreneurship and a thriving private sector. Without them, we have no chance to end extreme poverty and boost shared prosperity around the world.” Said Jim Yong Kim.
According to the report, a total of 107 reforms were carried out in sub-Saharan Africa, a record for the region. The report did not specify any reforms undertaken by the government which include Starting a Business easier in the country covered by Doing Business in the Gambia.
The report mentioned that getting regular electricity, trading across borders and enforcing contracts, and issuing new rules of civil procedure for small claims courts appears negative. The report further revealed that property registration is less transparent by not publishing online fee schedule and list of documents necessary to transfer a property in the Gambia.
The Ease of doing business index ranks countries against each other based on how the regulatory environment is conducive to business operation stronger protections of property rights. Economies with a high rank (1 to 20) have simpler and more friendly regulations for businesses. Ease of Doing Business in Gambia – actual data, historical chart and calendar of releases – was last updated on November of 2018