The World Bank’s latest Business Ready (B-Ready) 2024 report has highlighted the difficulties entrepreneurs face in setting up businesses in Ghana, revealing that it takes 57 days to register a company in the country, compared to just three days in Rwanda.

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Speaking at the report's launch, Robert Taliercio O’Brien, the World Bank’s Division Director for Ghana, Liberia, and Sierra Leone, expressed concern over the lengthy business registration process in Ghana.

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“It takes 57 days to register a new domestic company in Ghana. In Rwanda, it only takes 3 days,” he stated, urging authorities to streamline processes to make business entry more efficient.

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The report, which assesses regulatory frameworks and the efficiency of public services for businesses, found that Ghana performed poorly in market competition, business entry, and dispute resolution. It pointed out several gaps, including delays in digitizing intellectual property services, the absence of comprehensive business statistics, and a lack of digital infrastructure within the judicial system.

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It also noted that Ghana does not have a fully electronic company registration system, making the process cumbersome. Additionally, the country lacks an electronic case management system that allows businesses to file initial complaints online.

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Beyond business registration, internet reliability was another area of concern. According to O’Brien, Ghanaian firms face frequent internet disruptions, with 48% of businesses reporting connectivity issues in a typical month, compared to just 2% in more efficient economies.

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Despite these challenges, the report highlighted some positive aspects of Ghana’s business environment. The country scored highly in labor practices, utility services, and business insolvency.

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Ghana was recognized for its effective labor dispute resolution mechanisms, transparent utility service information, and the presence of electronic case management systems for liquidation and reorganization proceedings.

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While the findings underscore Ghana’s regulatory inefficiencies, the report suggests that improving digitalization, reducing bureaucratic delays, and enhancing internet reliability could significantly improve the ease of doing business in the country.

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