UK-GCC releases 2024 Ghana Business Environment and Competitiveness Survey Report

The UK-Ghana Chamber of Commerce (UKGCC) has released its 6th annual Ghana Business Environment and Competitive Survey (BECS) Report for 2024, capturing insights from 725 businesses across 22 industries.

The report highlights taxation policies, telecom costs, government bureaucracy, and regulatory challenges as top business concerns. Corruption, exchange rate volatility, and rising inflation also exacerbate operational costs.

While businesses appreciate improvements in technology, telecom services, and infrastructure, these gains are offset by persistent inefficiencies, particularly in manufacturing, due to high production costs and limited financing.

The report advocates for government-business collaboration to streamline tax policies, combat corruption, and enhance infrastructure. Key recommendations include creating a predictable regulatory environment, supporting SMEs, and investing in energy-efficient technologies to drive sustainable growth and attract investment.