Ghana to become most business friendly nation in Africa

• Posted on March 21, 2019
• by Ellsamwise King
• Comment

The Ministry of Trade and Industry has outlined a seven-point strategy that it believes will aid in making Ghana a business friendly nation in Africa.

According to the Ministry, the strategy will provide an enabling environment for businesses to thrive on the international market.

This, it says, is in line with President Akufo-Addo’s vision of making Ghana the most business friendly destination in Africa.

In an interview with Citi Business News, Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay, said various interventions are in place to fulfill government’s promises.

“As we have looked at those regulations, there are a number of activities we have put in place to improve them so that we go from where we are to where we want to be. There are seven aspects of that and this is one of them. This looks at the regulatory impact assessment and it allows you to do the following.

“It allows you to access the impact of any single regulation you want to put in place before you put it in place in a manner that is inclusive so you get as many parts of the nation involved and allows you to have the impact so that you don’t put the wrong regulations in place,” he explained.

Mr.  Ahomka-Lindsay made these remarks at a regulatory impact assessment stakeholders] sensitization forum in Accra.

The seven key components include Targeted Reform Initiatives towards Improving Ghana’s ranking in the World Bank Ease of doing Business, Establishment of a One-Stop Electronic Registry of all Business Regulation, a centralised Public Consultation Portal, Regulatory Impact Assessment (RIA) Training and Capacity Building, Rolling Review of Business Regulations Using Regulatory Guillotine Principle, Targeted Regulatory Relief for SMEs and Permanent Public-Private Dialogue Mechanism.

Speaking to the media Senior Associate at Jacobs, Cordova and Associates, Jorge Velazquez, said his outfit would ensure that it touches on ways by which stakeholders can help government make better decisions to benefit the country.

“We basically are here to touch on how stakeholders can help government to make better decisions to benefit stakeholders and the economy in general,” he stated.