The latest World Bank Doing Business Report 2020 that was released yesterday, rating Malawi two positions up, from position 111 to position 109, despite registering no reforms this year. Last year, the country recorded two reforms on the Doing Business Report.

The development follows after the latest World Economic Forum (WEF) Global Competitiveness Index, ranked Malawi on 128 out of 141 economies; a step above last year’s ranking. The WEF report shows a score of 43.4, below the 50 benchmark for competitiveness. According to the report, Malawi recorded a score of 60.9 up from 60.4 as developing economies are catching up with the developed economies in ease of doing business.

Doing Business Unit Programme Manager, Santiago Croci Downes, said with reforms led by the Organisation for the Harmonisation of Business Law in Africa last year and the Central African Economic and Monetary Community this year, economies in Sub-Saharan Africa have demonstrated how regional cooperation can help to effectively improve the business climate.