Ghana makes progress on ease of doing business

Ghana has improved in the ranking on the ease of doing business, according to the World Bank Group 2019 Doing Business Report.

The report, titled, ‘Training for Reform’ was released on Wednesday 24th October, 2018.

In the latest report, Ghana has improved its ranking to 114 out of 190 economies up six places from 120 in the 2018 Doing Business Report. Ghana’s ease of doing business score formerly called distance to the frontier has increased by 2.06 to 59.22.

Doing Business 2019 is the 16th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it.

Ghana’s progress reflects reforms in three key areas. First, the Government has made it easier to Trade across Borders, by implementing a paperless customs clearance processing system.

Secondly, Government has made it easier to deal with Construction Permits by strengthening construction quality control by imposing stricter qualification requirements for professionals in charge of technical inspections.

Thirdly, the Government has made it easier to Pay Taxes, by allowing financial losses to be fully carried forward during any of the following five years of assessment.

Henry Kerali, Country Director, World Bank, Ghana said it is encouraging to see that progress is being made to improve the business environment to promote investments by both domestic and foreign firms, so necessary to spur growth, provide jobs and further reduce poverty.