World Bank tells Uganda to speed up business reforms

Although Uganda has moved up seven places in Doing Business ranking by the World Bank, moving from 122 in 2015 to 115 in 2016 out of 190 economies, it has been told by the bank to institute reforms to achieve better ranking.
The World Bank Doing Business Report 2017 which is its 14 edition and themed ‘Equal Opportunity for All’ released in Washington DC on October 25, shows that Uganda’s improvement is based on three reforms that the country instituted over the 12 months.

Uganda made reforms in starting business through eliminating the requirement that a commissioner of oaths must sign compliance declaration; the country also made paying taxes easier by eliminating a requirement for tax returns to be submitted in paper copy following online submission. At the same time, Uganda increased the stamp duty for insurance contracts.