Cape Verde in top 10 African countries in economic governance

7 June 2011

Lisbon, Portugal, 7 June – Ten of the 30 African countries that “most improved” in terms of economic governance in 2010 are from sub-Saharan Africa, notably Rwanda, Cape Verde and Zambia, according to a report published Monday by the Africa Development Bank (AfDB).

The document entitled, “Economic Outlooks in Africa 2011,” published top coincide with the ADB annual meeting, from 6 to 10 June in Lisbon, is based on figures from the World Bank’s “Doing Business 2011” report, which draws up a list of countries that introduced the most reforms with a view to improving the business climate.

About Cape Verde the ADB report notes, for example, the fact that the country has eliminated “stamp duty on sales and controls,” whilst Zambia has introduced “facilities to create companies,” by doing away with “minimum capital requirements.”

In global terms, the Economic Freedom Index is led by Mauritius, which is ranked 12th worldwide in 2011, followed by Botswana (40th) and Cape Verde (65th), Namibia (73rd), South Africa (74th) and Rwanda (75th).

On the same list, Angola (161st) is in last place amongst the remaining Portuguese-speaking African countries, behind Guinea Bissau (159th), Sao Tome and Principe (150th) and Mozambique (109th place).

The AfDB report also noted progress made by Mozambique and Guinea Bissau in terms of launching businesses and the ability to follow through on contracts, respectively. (macauhub)