Editorial: Significant challenges with in-country business readiness

The B-READY report assesses business readiness and investment climates. It aligns with the government's National Economic Dialogue. The report highlights three key areas for a competitive economy:

1. Economic stability
2. Meeting international standards
3. Improving access to finance and markets

The International Finance Corporation (IFC) was established in 1956. Its goal is to engage with the private sector for job creation and economic growth. Over the past decade, IFC has provided over US$200 billion in financing globally. In the last year alone, it disbursed US$40 billion.

The report emphasizes taxation and investment incentives as needing policy clarity. Mr. Kelhofer stated that efficient tax policies are crucial for a good business environment. He said, “Coordination and clarity in these processes are essential.”

To improve Ghana’s competitiveness, businesses must meet international standards. This will help them access global markets and expand operations.

The B-READY report also identified procedural inefficiencies as barriers to growth. Kelhofer suggested streamlining these processes would help Ghana capitalize on its advantages.

The Business Ready (B-READY) 2024 report evaluates the regulatory framework for firms. It examines how well public services work with this framework in practice.