Ghana has dropped 12 places downwards in the latest World Bank Ease of Doing Business report.
This means Ghana has dropped from 108th position it recorded last year to 120th position. The 15th edition of the study was carried out between June 2016 and June 2017.
It measured 11 critical areas such as 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.
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. New Zealand, Singapore and Denmark retained their first, second and third spots, respectively, followed by Republic of Korea; Hong Kong SAR, China; United States; United Kingdom; Norway; Georgia; and Sweden.
This year’s top 10 improvers, based on reforms undertaken, are Brunei Darussalam (for a second consecutive year); Thailand; Malawi; Kosovo; India; Uzbekistan; Zambia; Nigeria; Djibouti; and El Salvador. For the first time, the group of top 10 improvers includes economies of all income levels and sizes, with half being top improvers for the first time – El Salvador, India, Malawi, Nigeria, and Thailand.
Kenya led on the African continent by occupying the 80th position, followed by Botswana 81st , and South Africa 83rd respectively. The others are Zambia which was ranked 85th with Tunisia taking the 88th position and Namibia 106th. Big brother Nigeria ranked 145 on the table with immediate neigbour Togo ranking 156th.
This year’s report recorded 264 regulatory reforms making it easier to do business—with 119 economies implementing at least one reform across the different areas measured by Doing Business.
What are the ranking trends?
• Mauritius, in 25th place in the Doing Business rankings, is the highest ranked economy in Sub-Saharan Africa. Other economies in the region that perform well on the ease of doing business rankings are Rwanda (at 41), Kenya (80), Botswana (81) and South Africa (82).
• The region’s lowest ranked economies are Somalia (190), Eritrea (189), South Sudan (187), and the Central African Republic (184).
• Other large economies in the region and their rankings are Democratic Republic of Congo (182), Ethiopia (161), Nigeria (145), Tanzania (137), Sudan (170), and Uganda (122).