The report highlights Ghana’s strengths in labor market regulations and utility services but underscores critical challenges in business registration, property transfer, construction permitting, access to credit, and dispute resolution.
Speaking at the launch, Robert Taliercio O’Brien, Regional Director for Ghana, Liberia, and Sierra Leone at the World Bank, emphasized the urgency of addressing Ghana’s bureaucratic inefficiencies and regulatory bottlenecks.
“The B-READY data highlights several areas where Ghana is doing better than peers in the Sub-Saharan Africa region… At the same time, the data reveals significant bottlenecks that, if unaddressed, will continue stifling growth and deterring investment,” he said.
The Minister for Trade and Industry, Hon. Elizabeth Ofosu-Adjare, reaffirmed the government’s commitment to addressing these challenges through the Business Regulatory Reform (BRR) Programme. She stressed the importance of streamlining regulatory frameworks, reducing bureaucratic delays, and fostering a competitive business environment.
“Achieving the full impact of Ghana’s economic transformation agenda depends on establishing robust regulatory frameworks and enhancing institutional efficiency. The government is committed to removing long-standing barriers that have hindered businesses from realizing their full potential,” the Minister stated.
The report’s methodology and global benchmarking were presented by Valeria Perotti, Manager of the Business Ready (B-READY) unit at the World Bank, who provided insights into how Ghana compares to peer economies and where targeted reforms could unlock growth. “The B-READY initiative is not just a set of rankings; it is a diagnostic tool that provides governments with a clear roadmap for reform. Our goal is to ensure a business environment that is efficient, transparent, and conducive to investment,” she said.
The launch event featured an engaging panel discussion with key private sector leaders and policy experts, including Simon Madjie, Executive Secretary of the American Chamber of Commerce, Ghana; Alexander Mould, Former CEO of the Ghana National Petroleum Corporation (GNPC); Mavis Owusu-Gyamfi, Executive Vice President, African Center for Economic Transformation (ACET); Seth Twum-Akwaboah, CEO, Association of Ghana Industries (AGI); and Ashok Mohinani, Executive Director, Mohinani Group.
The panel explored practical solutions for improving Ghana’s business climate, emphasizing the need for digitalization of regulatory processes, simplification of tax and trade procedures, and enhanced public-private collaboration.
Kyle Kelhofer, Senior Country Manager for Ghana, Liberia, and Sierra Leone at the International Finance Corporation (IFC), reaffirmed the World Bank Group’s commitment to supporting Ghana’s economic transformation. “The World Bank Group stands ready to assist Ghana with both financial and technical support to implement key reforms. This includes investments in infrastructure, digital transformation of public services, and strengthening credit systems to enhance financial access for businesses,” he said.
The World Bank Group has called on policymakers and the private sector to work together to implement reforms that will enhance business competitiveness, attract investment, and drive sustainable economic growth.
Source: starrfm.com.gh
