World Bank Group Launches Business Ready Report in Ghana
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 highlighting key areas for reform. While Ghana has made notable progress in labor market regulations and utility services, the report identifies critical challenges in business registration, property transfer, construction permitting, access to credit, and dispute resolution.
Urgent Need for Regulatory Reforms
Speaking at the launch, Robert Taliercio O’Brien, Division Director for Ghana, Liberia, and Sierra Leone at the World Bank, stressed the need for urgent reforms to tackle 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.” – Robert Taliercio O’Brien
In response, Hon. Elizabeth Ofosu Agyare, Minister for Trade, Industry, and Agribusiness, reaffirmed the government’s commitment to driving reforms through the Business Regulatory Reform (BRR) Programme.
“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.” – Hon. Elizabeth Ofosu Agyare
B-READY Report: A Roadmap for Economic Growth
Valeria Perotti, Manager of the B-READY Unit at the World Bank, presented the report’s methodology and global benchmarking, highlighting Ghana’s standing among peer economies.
“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.” – Valeria Perotti
Stakeholder Engagement and Practical Solutions
The 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)
- Ashok Mohinani – Executive Director, Mohinani Group
The panel explored practical solutions for improving Ghana’s business climate, focusing on:
- Digitalization of regulatory processes
- Simplification of tax and trade procedures
- Enhanced public-private collaboration
World Bank Group’s Commitment to Ghana’s Economic Growth
Kyle Kelhofer, Senior Country Manager for Ghana, Liberia, and Sierra Leone at the International Finance Corporation (IFC), reaffirmed the World Bank Group’s support for Ghana’s economic transformation agenda.
“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.” – Kyle Kelhofer
Way Forward: Strengthening Ghana’s Business Competitiveness
The World Bank Group has urged policymakers and the private sector to work together to implement critical reforms that will enhance business competitiveness, attract investment, and drive sustainable economic growth in Ghana.
