It isn't all good news from Ghana's business terrain after the recent ease of doing business ranking placed the country in the 120th position.
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Ghana drops on the ease of doing business index- what does it mean for businesses in the country?
Ghana dropped 12 places in the latest Doing Business report released by the World Bank.
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The country last year managed to pull off quite an impressive show by moving to the 102nd position, however, World Bank’s Doing Business 2018 index is not pretty encouraging for the country.
This development is definitely one that industry players are worried about.
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The World Bank rolled out the Doing Business report in 2002, and it currently ranks 190 countries to identify the most business-friendly nations on the basis of 10 parameters.
Ghana has been described as a good investment haven in Africa, however, this current position of the country on the world's business index can have negative effects in Ghana's investment terrain.
This drop has a negative repercussion on the FDI for the country. It cleans how beautiful the business environment can be.
Nigeria ranks only lower than Kenya (80 positions) and South Africa (82position) for sub-Saharan countries, and by continuing to implement better reforms, the country will move up the rankings.
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Nigeria has seen the exit of foreign companies from Nigeria in recent years due to their low rankings on the index. Companies such as Woolworths and Etisalat has seemingly emphasized how hard it is for even big companies to survive in Nigeria.
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