Editorial: Significant challenges with in-country business readiness

The B-READY report assesses business readiness and investment climates. It aligns with the government's recent 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 directly with the private sector. This engagement drives job creation and economic growth.

In the last decade, IFC has provided over US$200 billion in financing globally. Last year alone, it disbursed US$40 billion.

The report emphasizes the need for clarity in taxation and investment incentives. 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 internationally, businesses must meet global standards. This will help them access markets and expand operations.

The B-READY report also identified procedural inefficiencies as barriers to growth. Streamlining these processes could help Ghana leverage its advantages and boost economic progress.

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.