The availability of quality transportation infrastructure has constantly been improving, according to businesses in Ghana.
This was captured in the 2024 UK-Ghana Chamber of Commerce (UKGCC) Business Environment and Competitiveness.
According to the survey, the outgoing government completed various road infrastructure projects that has enabled access to remote areas for businesses.
Despite a significant fall in the ability of businesses to raise capital in 2022, the survey said the positive ratings for this business component have improved. This could be attributed to the improvement in the liquidity positions of the banking sector.
The survey also found that Ghana’s security environment improved in 2024.
According to the report, a crime-free environment will heavily influence decisions about whether to invest in Ghana or not.
Investors have indicated yearly that they prioritise the safety and security of their investment. Therefore, businesses want improvement in the efficiency and effectiveness of the legal system.
Respondents also believed the cost of power has increased considerably in 2024.
The report said there has been improvement in government bureaucracy over the last four years. Positive ratings for this business component were as high as 12% in 2022. Positive ratings for the cost of power however declined significantly in 2024.
The survey had 725 respondents, a 4% increase from the 696 participants in the 2023 survey conducted by professional services firm, PwC.
In 2024, businesses in the Greater Accra region accounted for 52% of the responses, a notable decrease from around 79% in 2023. The Ashanti region followed with a significantly smaller share of about 15%, which is an increase from 6% in 2023. Respondents to the survey were spread across all 16 regions of Ghana.
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