South Africa ranks 34th out of 183 countries in the World Bank's ‘Doing Business 2011' report, which was released on Thursday, placing the country just below Taiwan and above Mexico.

South Africa slipped two places from the 32nd position in the 2010 survey.

World Bank vice-president for financial and private development Janamitra Devan said that about 30% of global trade facilitation reforms in the past year took place in the sub-Saharan Africa region.

The report showed that 27 economies in sub-Saharan Africa implemented 49 regulatory reforms to improve their business environment.

For the third year in a row, Mauritius ranks highest in the region on the overall regulatory ease of doing business for local firms. Globally, it ranks 20th.

Rwanda, Cape Verde, and Zambia were among the ten economies worldwide that most improved the ease of doing business for local firms in the past year.

Rwanda moved up 12 places in the global rankings, while Cape Verde and Zambia rose ten and eight spots, respectively. Ghana led the world in making it easier for businesses to obtain credit. Malawi led in improving contract enforcement.

Many of Africa's economies made it easier to import and export, a trend driven in part by regional trade integration efforts.

"These welcome developments are another reminder that regulatory cooperation between economies pays off," said Devan.

Since 2005, Rwanda has implemented 22 business regulation reforms in the areas measured by the report. Starting a business in Rwanda required nine procedures and cost 223% of income per capita in 2005. Today, it takes two procedures and three days, and costs 8,9% of income per capita.

Cape Verde, the region's second most improved economy, implemented changes to make it easier to start a business by computerising its licensing system, easing property registration, and abolishing some stamp duties.

Zambia eliminated its minimum capital requirement, computerised customs declarations, and introduced an electronic case-management system in the courts.

Over the past six years, about 85% of the world's economies have made it easier for local entrepreneurs to operate, through 1 511 improvements to business regulation.

Globally, doing business remains easiest in the high-income economies of the Organisation for Economic Cooperation and Development and most difficult in sub-Saharan Africa and South Asia.

However, developing economies are increasingly active. China and India are among the top 40 most improved economies. Among the top 30 most improved economies, a third are from sub-Saharan Africa.

Worldwide, more than one-half the regulatory changes recorded in the past year eased business start-up, trade and the payment of taxes.

Many of the improvements involve new technologies. "New technology underpins regulatory best practice around the world. Technology makes compliance easier, less costly and more transparent," said Devan.

For the fifth year running, Singapore leads in the ease of doing business, followed by Hong Kong, New Zealand, the UK and the US. Among the top 25 economies, 18 made things even easier over the past year.

World Bank global indicators acting director Neil Gregory said that the economies most affected by the financial crisis, especially in Eastern Europe, had been targeting regulatory reforms over the past year to make it easier for small and medium-sized enterprises to recover and to create jobs.

Kazakhstan improved business regulation for local entrepreneurs the most in the past year.