The World Bank Group has launched the Business
Ready (B-READY) Report in Ghana, providing a comprehensive assessment of the
country’s business environment and identifying key areas for reform. 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, Division 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, Industry, and
Agribusiness, Hon. Elizabeth Ofosu Ajare, 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, CEO, Ghana Investment Promotion Centre (GIPC); Alexander Mould, CEO,
Millennium Development Authority (MiDA); Mavis Owusu Gyamfi, President &
CEO, 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, 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.
