Home | Goldstreet Business
Thursday, June 19, 2025
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result

Ghana given template for improved international business competitiveness

November 7, 2018
in Uncategorized
0
Share on FacebookShare on Twitter

…What top ranked African countries have done right

Following the recent release of the World Bank’s Ease of Doing Business Report, IMANI Africa has pointed out that Ghana has been given the strategies it requires to climb into the top 100 positions on the log by 2020.

RELATED POSTS

Nurses and Midwives call off nationwide strike

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

IMANI Africa is a highly respected policy think tank and it suggests that correct public policy as demonstrated by some other African countries that have climbed the rankings fastest can also propel Ghana up the rankings, thereby certifying it as a highly attractive destination for international trade and investment.

The report ranked Ghana in the 114th position, six places up from last year’s 120th position. Some economic players have attributed the gains largely to the implementation of Ghana National Single Window (GNSW) programme, an automated and integrated initiative introduced to link government agencies and private sector operators involved in international trade.

According to the report, countries in the Sub Saharan region set a new record for three consecutive years running, implementing a total of 107 reforms which subsequently improved the ease of doing business for domestic Small and Medium Enterprises (SME’s).

Some of the continent’s economies including Kenya, Togo, Rwanda and Ivory Coast have seen massive improvements in the 2018 global top improvers; Mauritius is Africa’s top ranked country, placing 20th in the world.

Mauritius regained the top spot in the region whiles Kenya moved 19 places up, from its previous 80th position to 61st. The achievements that propelled the improvements in their rankings, which reflect improvements in their competitiveness as trading partners and investment destinations, were as a result of some major economic reforms that led to the creations of more jobs, most especially start-ups which in turn opened their respective economies for business activities to flourish.

Speaking during stakeholder discussions aimed at finding the balance between trade facilitation and revenue mobilization in Accra, president of IMANI, Mr. Franklin Cudjoe mentioned the current administration has inherited some major growth enhancing projects making it possible for the target to be achieved.

“We must do more to be at least 100th position by 2020”. Government must redouble its efforts, it is doable”, he said.

According to him, this must be done by first doing away with some taxes, reducing some and reducing the size of government’s appetite in personnel and effectively implementing systems to tackle corruption.

Importantly, Ghana can obtain a template for improving its competitiveness as a trading partner and investment destination by identifying and replicating the reforms that have done the same for other African countries, especially those that in the highest positions on the world rankings.

The stakeholder forum was held to finding suitable ways to maximizing government revenues. Key among the discussion focused on the recent implementation of the Cargo Tracking Note (CTN) policy and Paperless Port System.

These policies seek to remove all bottlenecks associated with the activities at the ports. However, imports undervaluation is still common, although the Ghana Revenue Authority (GRA) has declared its readiness to tackle the matter and bring the culprits to book.

What Mauritius, Kenya and Rwanda have done right                                                                                            

Mauritius implemented five major interventions aimed at strengthening and consolidating the economy for equal business opportunities to thrive. One of the major interventions was the enactment of Business Facilitation Act (BFA) on May 2017 as well as some budgetary measures.

The objective of the BFA was to “provide for amendments to the legislative framework that are necessary for the removal of constraints in relation to permits, licenses, authorizations and clearances to further facilitate the doing of business, and for related matters”.

The Act was aimed at giving a new drive to investments which sought to create a favorable atmosphere for doing business. It was also intended at encouraging a modern and digital business community by bringing significant amendments and innovation. Aside these, various administrative constraints were also addressed by the act.

Currently, it is estimated that the growth rate of Mauritius is around 3.9 percent while unemployment is expected to decrease to less than seven percent.

Kenya

One of the best ways to solve the problem of unemployment and spur faster economic growth is to start a business. Kenya has improved itself by adopting international best practices in business regulation in implementing major reforms to remove various bottlenecks associated with starting and registering businesses.

According to the World Bank, Kenya’s performance which has taken it to the 61st position out of 190 countries in the ranking was as a result of key reforms implemented to improve the growth of business climate for SMEs – a segment that is critical to the creation of more jobs and business opportunities in every economy.

World Bank Kenya Country Director, Felipe Jaramillo, has mentioned that in recent years, the country has embraced a strong reform agenda to boost investment and create jobs.

These major interventions earned Kenya a spot among the global top improvers, “a distinction it has earned four times in the past 11 years”. Kenya are the only economy in the region that has recorded improvement in the Ease of Doing Business Index for two years in a row.

Rwanda

Rwanda is the only Low-Income Country (LIC) to have entered the Top 30, out of the 190 countries ranked. The country moved 11 places up to the 29th position, from last year’s 41st position. This was as a result of a deliberate approach to reforming its business environment.

Out of the ten Doing Business indicators, Rwanda improved on almost all indicators. The country recorded the biggest gains by making electricity accessible and resolving insolvency which reflected a 20 percent increase in the absolute score.

In the categories of registering properties and quality credit information system procedures, Rwanda ranked second and third respectively.

In 2005 for instance, it took 354 days averagely to register property; in 2018 it takes an average of 7 days. Using the same comparing years, it costs the equivalent of 317% of annual per capita income to register a new business. However, it now costs less than 15%.

This portrays a favourable surge in the economy of Rwanda making the country one of the easiest places to do business in the world and thus a most attractive destination for international trade and investment.

Rwanda further improved its rank on ease of starting a business by replacing the electronic billing machine system with free software from the Rwanda Revenue Authority to allow taxpayers issue VAT invoices from any computer.

By Dundas Whigham

facebookShare on Facebook
TwitterTweet
ShareTweetShare

Related Posts

Nurses and Midwives call off nationwide strike

Nurses and Midwives call off nationwide strike

June 13, 2025
Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

June 13, 2025
Ghana Nets Over $1.17 Billion in Forex from Goldbod Programme – Finance Minister

Ghana Nets Over $1.17 Billion in Forex from Goldbod Programme – Finance Minister

June 5, 2025
FDA boss elected first Director-General of African Medicines Agency

FDA boss elected first Director-General of African Medicines Agency

June 5, 2025
Importers and Exporters Association calls on President Mahama to terminate ‘wasteful’ SML contract

Importers and Exporters Association calls on President Mahama to terminate ‘wasteful’ SML contract

June 5, 2025
Next Post

Manufacturers transferring tax stamps to third parties

GCX trades on first day

Archives

<
June 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • August 2024
  • July 2024
  • June 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
     12
3456789
10111213141516
17181920212223
2425262728  
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
   1234
567891011
12131415161718
19202122232425
26272829   
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
  12345
6789101112
13141516171819
20212223242526
2728     
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
1234567
891011121314
15161718192021
22232425262728
       
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

Nurses and Midwives call off nationwide strike

Nurses and Midwives call off nationwide strike

June 13, 2025
Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

June 13, 2025

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.