Taxation, financing and infrastructure major challenges for Ghanaian businesses – UKGCC survey

The 2024 Business Environment and Competitiveness Survey by the UK-Ghana Chamber of Commerce highlights key challenges facing businesses in Ghana, with taxation policies, particularly the Growth and Sustainability Levy, being the top concern.

High operational costs, limited access to affordable financing, regulatory inefficiencies, corruption, and infrastructure deficits further constrain business growth, especially for SMEs.

Despite these obstacles, businesses are leveraging technology and expanding digital infrastructure to enhance productivity. They call for urgent reforms, including a transparent tax system, targeted incentives, simplified registration processes, and improved export support.

Access to affordable credit remains a priority, alongside greater collaboration between the private sector, government, and international stakeholders.

Optimism persists due to opportunities from AfCFTA and an expanding domestic market, but businesses urge structural reforms to unlock Ghana’s full economic potential.