Moving from 67 to 10
International Finance Corporation (IFC), an arm of World Bank had ranked Ghana higher as a country to do business. Ghana was ranked the ten place from 67 of doing business in the world and this was attributed to the new reforms that resulted to more credit liquidity and availability.
“Ghana ranks topmost in registering property access to credit and is among the first 10 economies by reform pace, the IFC said in a new report for 2011 launched simultaneously globally. Overall, the country ranks fourth in Africa in improving general business environment after Mauritius, Rwanda and Tunisia.
The findings are contained in Doing Business 2011: Making a Difference for Entrepreneurs, the eighth in a series of the flagship annual reports published by IFC and the World Bank benchmarking the regulations that enhance business activity and those that constrain it.”
IFC in released statement: “Ghana has established Africa’s newest centralised Collateral Registry and by improving credit information and legal rights through granting an operating license to a private credit bureau, the West African country led the world in making it easier for business to obtain credit” and this had aided Ghana to move up to the higher ranking.
Ghana with its oil discovery and production later this year will help the country to increase avaliability of credits and resources for business dealings.