ll. Findings of the CRM Business environment 698. The CSAR contains a fair analysis of the business environment in Tanzania based on survey data from the World Bank’s Doing Business. However, updated survey results were recently published by the World Bank (Doing Business 2012). Accordingly, the following analysis is based on updated survey results. 699. In assessing an economy’s regulatory environment for business, a good starting point is to find out how it compares with the regulatory environment in other economies. In this regard, the Doing Business Report sheds light on the ease with which a local entrepreneur in 183 economies can open and run a small to medium-size business while complying with relevant regulations. The report measures and tracks changes in regulations affecting 10 areas106 in the life cycle of a business, all of which have corporate governance implications. Table 5.1 below shows Tanzania’s ranking in the 10 areas in the life cycle of a business for the period beginning 2011 and 2012. Table 5. 1: Tanzania: Overall ‘Ease of Doing Business Rank’ (Out of 183 Economies) and the Ranking by Each Topic Topic Rankings DB 2012 DB 2011 Change in Ranks Starting a business 123 122 -1 Dealing with construction permits 176 177 +1 Getting electricity 78 80 +2 Registering property 158 155 -3 Getting credit 98 96 -2 Protecting investors 97 93 -4 Paying taxes 129 123 -6 Trading across borders 92 115 +23 Enforcing contracts 36 33 -3 Resolving insolvency 122 120 -2 Source: World Bank, Doing Business 2012. 700. During regional interactions between the CRM and various stakeholders, it emerged that a majority of stakeholders were of the view that the major obstacles to starting a business in Tanzania were difficulties in getting credit from commercial banks owing to high interest rates, onerous collateral requirements, stringent licensing requirements and poor contract enforcement. 701. While Tanzania is an average performer in the Doing Business survey, compared to other sub-Saharan African countries, rankings improved in only 3 out of 10 of the stipulated assessment areas, as demonstrated in Table 5.1. These areas are: “dealing in construction permits”, “getting electricity” and “trading across borders.” 702. Internationally, Tanzania stands at 123 in the ranking of 183 economies on the ease of starting a business. For sub-Saharan Africa, the regional average ranking for starting a business and dealing with construction permits is 123 and 112 respectively. 703. Access to reliable and affordable electricity is vital for businesses. To counter erratic electricity supply, many The 10 areas referred to are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. 106 144