Rwanda has again recorded strong performance in the latest World Bank Doing Business report, maintaining its second position on the African continent behind Mauritius.
The conducive business environment that is informed by cross-cutting reforms has not only helped improve foreign direct investments, but the country has also become a case study for many.
Regionally, Rwanda continued to be the trailblazer.
Reading various regional news outlets that reported on the report, one got the impression that ranking took centre stage, and not the outlying factors; attracting new businesses by doing away with unnecessary red tape.
The East African region is currently one of the most attractive investment destinations, therefore, improving the doing business indicators should be its priority.
That Kenya has also begun to make significant improvements in doing business reforms should be a signal to other regional countries to join the bandwagon.
Just as there is the joint tourism visa to market the region as a single destination, can it also be applied to other areas? Could stakeholders contemplate jointly promoting East Africa as a single investment destination? Maybe results would be realised faster.
But in order to achieve that dream, member countries need to move in tandem. They could pick best practices from each other and share experiences putting into consideration individual needs, strengths and weaknesses.
However, in the long run, it will be up to countries’ willingness to reform and how far they are ready to dream.
Is East Africa ready to take the leap as one entity?