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Ghana Overtakes Nigeria As Best Place To Do Business

The World Bank has declared Ghana as currently the best country for doing business in West African sub-region, beating Nigeria to 2nd position, with Ivory Coast in 3rd position.

In its yearly report on the convenience of Doing Business, the World Bank said it rated one hundred ninety countries, which indicate marginal progress in several areas.

According to the rankings, Ghana was ranked as the ninth best place for doing business in Africa after Lesotho and Zambia.

Nigeria was ranked next to Ghana based on what the bank described as factors policies inconsistent with survival of businesses in the country.

However, Nigeria recorded the best point in the space of commerce, with 14 points out of 70 among one hundred ninety countries where it came 1st over all other countries in the sub-region.

As was last year’s ranking, Mauritius once again ranks best in the region, with an overall Doing Business global ranking of forty-nine.

Mauritius performs best in the areas of protecting Minority Investors and dealing with Construction Permits, with a rank of thirty-two and thirty-three respectively, on those indicators.

Ghana recorded its biggest jump in the area of trading across borders, increasing by 13 places to 167 out of the 190 countries ranked.

It also went up by 3 places to 76 on the resolving insolvency indicator and 2 places to 122 when it comes to getting access to electricity for businesses. On the global front, Ghana’s performance went up globally by 3 places to 108 out of 190 countries ranked.

The World Bank rankings assessed countries based on 11 indicators like starting a business, access to a credit facility, registering a property, access to electricity, paying taxes, protecting minority investors, trading across borders, enforcing contracts and resolving liquidation.

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