‘Regulatory reforms make it easier to do business’

“Over the past year a record number of governments in sub- Saharan Africa have changed their economies’ regulatory environments to make it easier for domestic firms to start up and operate,” Temi Ofong, head of corporate at Absa Capital, told exporters at an event in Cape Town recently. “In a region where relatively little attention was paid to the regulatory environment only eight years ago, regulatory reforms that make it easier to do business were implemented in 36 of 46 economies between June 2010 and May 2011. That represents 78% of economies in the region, compared with an average of 56% over the previous six years,” he said. “Understanding the strategic drivers of trade in Africa, such as financing, networking, managing cultures and legislation, remain important, and as South Africans we have an added advantage because of our deep understanding of the realities of doing business in Africa.”