doing business

Ghana has dropped 12 places to 120th position from the 108th position in the 15th edition of the World Bank Ease of Doing Business report, a release received here on Wednesday indicated.

In the survey carried out between June 2016 and June 2017, Ghana scored 84 percent when it comes to the ease of starting business; dealing with construction, 61 percent, getting electricity, 56 percent; and registering property, 55 percent.

The survey measured 11 critical areas, including starting a business; dealing with construction permits; getting electricity; registering property; getting credit; protecting minority investors; paying taxes; trading across borders; enforcing contracts; and resolving insolvency.

In 2016, Ghana made marginal improvement in creating conducive environment for doing business, placing 108 out of 190 countries.
The ease of doing business index ranks countries against each other based on how the regulatory environment is conducive to business operation and stronger protections of property rights.

Economies with a high rank (1 to 20) have simpler and more friendly regulations for businesses.

Globally, New Zealand, Singapore and Denmark retained their positions as first, second and third in the business climate indicator with the Republic of Korea; Hong Kong (SAR); China; United States; United Kingdom; Norway; Georgia; and Sweden following in that descending order.

Ease of Doing Business in Ghana averaged 88.20 from 2008 until 2017, reaching an all time high of 120 in 2017 and a record low of 60 in 2010.

Among African countries, Kenya led by occupying the 80th position, followed by Botswana, 81st, and South Africa, 83rd, respectively.

Zambia ranked 85th; Tunisia placed 88th while Namibia was ranked 106th. Nigeria ranked 145th on the table while Togo ranked 156th.

“Several economies, including Benin, Cape Verde, the Democratic Republic of Congo, Gabon, Ghana, Niger, Nigeria and the Seychelles increased the transparency of dealing with construction permits by publishing regulations related to construction online,” the report observed.

It said the Sub-Sahara African region had carried out a total of 798 reforms since the start of going business, with Rwanda implementing the most reforms in the past 15 years, totaling 52, followed by Kenya (32) and Mauritius (31). Enditem

Source: Xinhua/

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