A multisectoral technical team from various government agencies presented the business reform to stakeholders at the Labadi Beach Hotel in Accra.
The reforms which are in line with the framework of the World Bank Group’s Doing Business Report will cover starting a business, obtaining construction permits, getting electricity, trading across borders, and resolving insolvency.
Dr Bawumia said “these reforms are further demonstration of government’s commitment to removing the obstacles that have long kept businesses in Ghana from reaching their full potential. We aim to unleash the Ghanaian entrepreneurial spirit and open our doors to the world.”
The Doing Business Report has become the global benchmark for measuring how friendly countries are for businesses. The “zero-sum ranking” fosters keen competition among countries as those that don’t reform faster than their peers can go down in the ranking even if their business environment does not change. Ghana ranked 114thin the 2019 ranking, up from 120th in 2018.
Meanwhile, the IFC Country Manager for Benin, Burkina Faso, Ghana, Niger, and Togo, Ronke-Amoni Ogunsulire said “Through our work in advising Government in over 80 countries globally and over 30 in this region, we know that having the commitment at the highest level of leadership is one of the most important ingredients of the reform agenda.”
She was certain that “with the appropriate reform structures in place, efficient coordination, and accountability mechanisms, Ghana has the right formula to succeed and implementing an investment climate conducive to the growth of businesses.”
Click here to find out the reforms to take effect between March and June 2019.