In a recent report by the Standard Bank of South Africa’s Africa Trade Index, Uganda has emerged as the leader in creating a favorable trade environment among the East African nations.
The index, also known as Stanbic in other countries, offers a comparative analysis of the factors that either facilitate or hinder trade across ten African markets.
Based on data collected between August and September 2022, Uganda climbed from its previous sixth-place ranking to secure the fourth position.
This upward shift can be attributed to the Ugandan government’s proactive support for trade activities, improved opportunities for import and export growth, and simplified access to credit for businesses.
On the other hand, Tanzania maintained its fifth-place position from the previous study, while Kenya slipped from fourth to seventh place due to a significant decline in loan conditions and import growth prospects.
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The top three countries in the rankings were South Africa, Ghana, and Namibia. South Africa claimed the first spot, while Ghana and Namibia followed closely behind.
The study drew insights from 2,554 companies operating in South Africa, Ghana, Uganda, Namibia, Tanzania, Mozambique, Kenya, Nigeria, Zambia, and Angola. These findings shed light on the varying trade climates across Africa and provide valuable information for businesses and policymakers alike.
Uganda’s rise to the top of the trade-enabling environment rankings highlights its commitment to fostering a conducive business ecosystem.
With ongoing efforts to support trade activities and facilitate cross-border transactions, Uganda is poised to attract more investments and bolster its economic growth in the region.
