This archive report was first published on 26 September 2019.
Published on September 26, 2019, a report by multinational financier Standard Chartered Plc has ranked Kenya third out of 66 economies showing the best potential in future trade growth.
The study considered various factors, including improvements to physical and digital infrastructure, ecommerce, and ease of doing business.
Kenya's ranking was driven by its improving business climate, with notable advancements in road and railway development, making it easier to move goods within the country and to trading partners in the region.
According to the World Bank's ease of doing business report, Kenya was among the most improved in the past year, ranking position 61 globally in 2019, an improvement of 19 positions in a year and 31 positions in two years.
Kenya's progress was largely due to improvements in registering property, protecting minority investors, paying taxes, and access to credit. The country also introduced a new insolvency law, modernizing its old law to make it easier for companies to resolve their financial problems.
Standard Chartered Plc noted that while Kenya and other smaller economies cannot match the overall trading potential of larger trading powers, they are progressing quickly, albeit from a low starting point.
