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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Ghana seeks to become most friendly business nation in Africa

Tuesday, December 12, 2017 > 10:39:16
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News Ghana

The government of Ghana commenced the process here on Friday to reform its business registration and regulation atmosphere to make the country most friendly business nation in Africa within three years.

The coordinated national program aims at improving the country’s Doing Business Climate and improve its performance in key global indicator surveys including the annual World Bank’s Ease of Doing Business Index.

Minister for Trade and Industry Allan Kyeremateng who launched the program said the process would focus on selected regulations relevant to the life cycle of domestic small and medium sized businesses.

The indicators to be reformed include Starting a Business; Dealing with Construction Permits; Enforcing Contracts; Resolving Insolvency; Registering Property and Getting Electricity. In addition, Getting Credit; Protecting Investors; Paying Taxes and Trading Across Borders will also be reformed, according to the minister.

Ghana slipped 12 places to 120 from 108 in the 2017 World Bank Ease of Doing Business index released in November.

“We are seeking to create and enabling environment that will make Ghana the most friendly business country in Africa,” the minister said in an interview, adding:” that will require the reform of laws, regulations and administrative procedures.”

Kyeremateng added that the reforms would not happen by chance but by careful and deliberate engineering, hence the multi-sectoral nature of the program which is mostly being led by the private sector under the guidance of the Ministry of Trade and Industry (MOTI).

“At the end of the three-year period of implementation phase, we are confident that Ghana will not only become the most friendly business country in Africa, because we do not want to benchmark ourselves with our African peers alone, but would also be among the best in the world,” Kyeremateng projected. 


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