The World Bank Group has launched the Business Ready (B-READY) Report in Ghana, providing an in-depth evaluation of the country’s business environment while identifying key areas requiring reform to accelerate private sector growth.
The report highlights Ghana’s strengths in labor market regulations and utility services but points out inefficiencies in business registration, property transfers, construction permitting, access to credit, and dispute resolution as major barriers to economic development.
At the launch event, Robert Taliercio O’Brien, Division Director for Ghana, Liberia, and Sierra Leone at the World Bank, emphasized the urgency of resolving these bottlenecks to improve Ghana’s attractiveness to investors.
“The B-READY data shows that Ghana outperforms several Sub-Saharan African peers in key areas… However, significant barriers remain that, if unaddressed, will hinder growth and discourage investment,” he stated.
Government’s Commitment to Reform
The Ghanaian government has reaffirmed its commitment to tackling these issues through the Business Regulatory Reform (BRR) Programme. Hon. Elizabeth Ofosu Agyare, Minister for Trade, Industry, and Agribusiness, underscored the role of regulatory efficiency in achieving economic transformation.
“Maximizing the impact of Ghana’s economic transformation agenda requires strong regulatory frameworks and improved institutional efficiency. The government is determined to remove long-standing obstacles that prevent businesses from reaching their full potential,” she said.
B-READY: A Tool for Reform, Not Just Rankings
Explaining the methodology behind the B-READY Report, Valeria Perotti, Manager of the B-READY unit at the World Bank, stressed that the initiative is more than a ranking system.
“The B-READY initiative serves as a diagnostic tool, offering governments a clear roadmap for reform. Our objective is to create an efficient, transparent, and investment-friendly business environment,” she noted.
Expert Panel Discussion & Key Recommendations
A panel discussion featuring industry leaders such as:
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Simon Madjie (CEO, Ghana Investment Promotion Centre - GIPC),
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Alexander Mould (CEO, Millennium Development Authority - MiDA),
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Mavis Owusu Gyamfi (President & CEO, African Center for Economic Transformation - ACET),
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Seth Twum Akwaboah (CEO, Association of Ghana Industries - AGI), and
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Ashok Mohinani (Executive Director, Mohinani Group),
explored practical solutions to enhance Ghana’s business climate. Key recommendations included:
✅ Digitalizing regulatory processes,
✅ Simplifying tax and trade procedures, and
✅ Strengthening public-private sector collaboration.
IFC’s Support for Ghana’s Economic Growth
The International Finance Corporation (IFC), a key World Bank Group member, pledged financial and technical assistance to support Ghana’s economic transformation. Kyle Kelhofer, Senior Country Manager for Ghana, Liberia, and Sierra Leone at the IFC, reaffirmed the organization’s commitment.
“The World Bank Group is prepared to assist Ghana with both funding and technical expertise to implement critical reforms. This includes infrastructure investments, digital transformation of public services, and enhancing financial access for businesses,” he stated.
The World Bank Group has urged policymakers and private sector stakeholders to collaborate in implementing these reforms, fostering business competitiveness, attracting investment, and driving sustainable economic growth.
