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Ghana ranked 16th most competitive economy in Africa
The 2017 World Economic Forum's annual Global Competitiveness Report says Ghana is the 16th most competitive economy in African region.
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The report seeks to assess the competitive landscape of 138 countries, providing insight into the drivers of their productivity and prosperity.
Out of the 138 countries ranked on the global scale Ghana ranks at 114th position.
The global ranking has seen Ghana drop five places from the 119th position in 2015/2016 Global Competitiveness Report by the World Economic Forum.
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Switzerland's economy beat Singapore and the US for top billing in the annual World Economic Forum (WEF) Global Competitiveness Report.
This is the nineteenth consecutive year that Switzerland has claimed the top spot.
European countries continue to dominate the top 10.
READ ALSO: Ghana ranked 120th in global tourism
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The GCI score of an economy is calculated using 12 factors, including these four core requirements
Access to finance continued to be the most problematic factor affecting business in Ghana. Corruption placed number two, and taxation was rated third.
Mauritius, South Africa and Rwanda come out on top of the best-performing African nations.
Mozambique, Sierra Leone and Mauritania, Chad and Burundi rank the least competitive countries on the global report.
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