Ghana ranks high in investor confidence

Ghana has been ranked amongst the best places in the continent for investors to conduct business according to the Investor Confidence Indicator for Africa (ICIFA) report.

This report is the first to be done by the US-Africa Business Centre based in Washington rates African countries on the ease of doing business.

The rationale behind ICIFA report is to give investors credible information about countries in the continent where they’re better off investing their money.

The composite score upon which the indicator is measured is evaluated based on how convenient is it to do business in a specific county.

The ICIFA scores a nation based on variance of factors such as development, security, and good governance grounded in the rule of law, as well as media freedom.

Based on that aggregate score, the indicator assigns colour codes reflecting each country’s position relative to one another – dark green reflects those countries that place in the top quartile of overall performers in Africa; light green those in the second quartile; yellow those in the third quartile and red those in the fourth quartile.

Speaking at the launch of the report, Alan Kyerematen sector Minister for Trade and Industry, told investors and companies in the United States to utilize the opportunity the nation present them following the report to invest in Ghana’s economy.

“Our goal is to make Ghana the best place to do business on the continent and in that light, we have taken bold regulatory reforms to improve the ease of doing business” he added.

The minister also assured all foreign investors that they had the unflinching support of government and that they would continue to make business in Ghana as convenient as possible.

Scott Eisner, the president of the US-Africa Business Centre added that a country is only poised for economic success in a positive business climate if it strives for a strong society founded on good governance.