Majority of 47 businesses that are members of the UK-Ghana Chamber of Commerce believe the Ghanaian business environment is at par with other countries on the African continent.

However, a significant portion (40%) also think Ghana is lagging behind.

Despite Ghana being viewed as one of the best investment destinations in Africa, only 18% of 47 businesses surveyed by accounting and auditing frim, pwc, viewed it as such.

However, the country risks losing these businesses to other countries should this persist.

All the respondents from the Mining and Construction as well as Real Estate industries view the Ghanaian business environment as lagging in comparison to the other countries within which they operate.

A significant majority of Professional Services and Other Service Industry respondents, however, feel the business environment in the country matches that of other countries and thus rate it at par.

For respondents within the Media, Data Processing and Telecom industry, half believe Ghana leads, while the others believe Ghana lags behind.

“It will be beneficial for the government and/or its agencies to have further engagements with UKGCC businesses in order to properly attend to their business needs and make the business environment more attractive for further investments. Corruption still remains a problem – as it has in previous years – and the government needs to enforce stringent measures to check this”, the report alluded.

Finally, over half of the businesses surveyed also believed the companies within their industry can be competitive in the global marketplace

The survey was conducted among member companies of the UK – Ghana Chamber of Commerce with 47 members taking part in the survey.

This was a reduction from the 67 businesses in the prior survey of 2021. Respondents represented 16 industries and ranged from small to large companies.