- Language: English
- Published: February 2012
- Region: Africa, Global, Great Britain, South Africa, United Kingdom
Country Report Guinea
- Published: November 2013
- Region: Equatorial Guinea, Guinea
- 24 Pages
- The Economist Intelligence Unit
Guinea climbs four places to 179th (out of 189 economies) in the World Bank's latest Doing Business report for 2014.
Despite this slight improvement-both in terms of actual reform and relative performance-Guinea remains one of the most challenging business environments in the world. That said, the marginal relative upgrade in the overall ranking conceals the fact that the country made absolute improvements in six of the 10 sub-categories, including two in which Guinea still fell down the global ranking.
The greatest advances have come in terms of making it easier to start a business (up 14 places to 146th), and registering a property (up 15 places to 140th). The number of procedures required to start a business has been reduced from six to five, while the time it takes has been significantly reduced, from 35 to 16 days, by enabling the one-stop shop for incorporation that was established in 2012 to publish incorporation notices. While notary fees have also fallen, minimum paid-in capital is still a lofty 314% of income per head, compared with an average of 126% in Sub-Saharan Africa and 10.4% in the OECD. Registering property became easier and cheaper with the lowering of the property transfer tax, reducing the total cost from 14.2% of the property's value to 9.1%. Another noted area of improvement has been the simplification of port management systems to make trading across borders easier, although this had only a slight impact on Guinea's overall rank in this sub-category. Guinea's highest rank was for getting electricity, where the country rose one spot to 91st. The four procedures and 69 days required compare favourably to the Sub-Saharan African and OECD averages. However, the cost of getting electricity is an eye-watering 8,020% of income per head, compared with a still-extreme 4,820% average for Sub-Saharan African, and 79% in the OECD. SHOW LESS READ MORE >
Country Report Guinea
Doing business is becoming slightly easier
Impact on the forecast