WORLD BANK INDEX
SA slides in ranking on ease of doing business
The latest Doing Business survey ranks SA at only 82nd on the index of 190 countries, down from 74th last year
SA is becoming a more difficult and cumbersome place for small and medium-sized companies to do business, says the World Bank, whose latest global index shows it has toppled eight places down the rankings. The latest Doing Business survey ranks SA at only 82nd on the index of 190 countries, down from 74th last year, as the red tape in SA remains as tight as ever at a time when other countries in sub-Saharan Africa and elsewhere are making it easier for entrepreneurs to start up and expand their businesses. SA’s slide on the key World Bank rankings comes after it fell 14 places in the World Economic Forum’s (WEF’s) Global Competitiveness index, mainly due to the erosion of the strength of SA’s institutions and financial markets, with the WEF in September citing corruption and government instability as the most problematic factors. The acting director of the World Bank’s global indicators group, Rita Ramalho, said on Tuesday that other countries were overtaking SA, which had not made ...