Trade Minister calls for stronger business reforms to boost Ghana’s economy

Ghana’s Minister for Trade, Industry, and Agribusiness, Hon. Elizabeth Ofosu-Adjare, has urged for robust business reforms to drive economic growth, emphasizing the need for stronger regulations and institutional efficiency.

Speaking at the dissemination of Ghana’s Business Ready 2024 Report in Accra, hosted by the World Bank and the Government of Ghana on March 26, 2025, she highlighted the government’s efforts to improve the business environment.

“To achieve this, the Ministry is implementing the Business Regulatory Reform (BRR) program. This will remove barriers that prevent businesses from growing and ensure better regulations,” she stated.

She also praised the World Bank’s “Be Ready” initiative, which seeks to create a fair, predictable, and digital-driven business landscape, while stressing that Ghana’s economic transformation depends on reducing bureaucratic hurdles and strengthening manufacturing and agribusiness.

The Business Ready (B-READY) Report provides a detailed assessment of Ghana’s business environment. The report acknowledged strengths in labor market regulations and utility services but flagged critical challenges in business registration, property transfers, access to credit, and dispute resolution.

Robert Taliercio O’Brien, the World Bank’s Division Director for Ghana, Liberia, and Sierra Leone, underscored the urgency of tackling regulatory bottlenecks, stating, “The B-READY data highlights several areas where Ghana is doing better than peers in the Sub-Saharan Africa region… At the same time, the data reveals significant bottlenecks that, if unaddressed, will continue stifling growth and deterring investment.”

The launch event also featured a panel discussion with business leaders and policy experts, who explored practical strategies for improving Ghana’s business climate through digitalization, trade simplification, and stronger public-private collaboration.