Kenya posted a significant improvement in the 2018 Ease of Doing Business report released by the World Bank on Wednesday.
Up from 80 in 2017, Kenya was ranked position 61 out of 190 economies.
A high ease of doing business ranking means the regulatory environment is more conducive to the establishment and operation of a local firm.
The improvement was attributed to the introduction of an online system for registration of property that allows one to pay fees and obtain certificates.
"As a result, the time for a business to register a property transfer has now been reduced to 49 days, from 61 days," the report noted.
Kenya also placed highly in ease of access to credit, ranking at position 8 globally against a regional average of 115.
Last year, Kenya ranked 29 in ease of access to credit, with the popularity of mobile loan applications fueling the rapid rise.
The country, however, ranked poorly in construction permitting due to the long, tedious process to get approvals.
It takes slightly over five months to obtain all permits and authorizations to build a warehouse against the regional average of 146 days.
The World Bank report ranked Kenya at position 128 in dealing with construction permits.
