From The Observer

The World Bank’s 2014 Doing Business report has ranked Uganda among states that literally made no significant steps to improve the business environment this year.

The bank cites limited access to electricity and cheaper credit, as well as protracted procurement procedures as some of the bottlenecks stifling business growth in the country. According to the World Bank report, Uganda only improved on one parameter – the registration of property.

Overall, the country ranked 132 out of 189 countries that were surveyed. This is worse than last year’s 126th position. For instance, the report says, it still takes one a whole 15 days to register a business, including paying non-receipted money to officials.

And despite generating more power, with Bujagali on the grid and other min-power stations opened, it still takes up to six months (178 days) to get power.

The World Bank’s ranking is important because it acts as a guide for investors looking to invest in economies with a favorable environment. It also points governments to where more work is needed to attract more successful investments.

-Written by Alon Mwesigwa

Read more at observer.ug