Cameroon slipped again this year by one spot on a global index that analyzes the extent to which business activity is enhanced or constrained in different countries.
Doing Business 2020, released October 23, 2019 placed Cameroon in the 167th spot, below Burundi and Sierra Leone.
Cameroon’s rank on the index deteriorated to 166 in 2018 from 163 in 2017.
The ranking system is put together by the world Bank Group, and weighs variables such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency.
Mauritius, Rwanda and Morocco were ranked the top-performing African economies by researchers.
Even though no African nations appeared at the top of the list – New Zealand and Singapore came out ahead – both Togo and Nigeria named among the Top 10 most improved countries.
Somalia came in last overall again, with Eritrea, Libya, South Sudan and the Central African Republic also among the worst-performing economies in Africa.
“Regulation exists to protect workers, public safety, businesses, and investments,” the World Bank stated. “But inefficient or inadequate regulation can stifle entrepreneurial activity and business growth and impact the ease of doing business.”
“It takes over 200 hours to complete export border requirements for maritime transport in Cameroon and Côte d’Ivoire. In contrast, it takes only 10 hours in Singapore. Border compliance costs for export at seaports in Gabon average over $1,600, but just over $300 in Mauritius.”