President Akufo-Addo has assured investors that steps are being taken by his government to reduce the cost of doing business in Ghana.

The president was delivering the keynote address at the Ghana Investment Opportunities Summit, an event organised at the Hilton Park Lane Hotel in London as part of the second UK Africa Summit.

In spite of being one of the biggest attractors of foreign direct investment in Africa, Ghana’s bureaucratic processes and high cost of doing business remain a cause of concern for some international investors. 

Addressing the gathering in London, the president outlined some of the interventions initiated by his administration in tackling bottlenecks hampering the growth of business in the country.

“Government has a very important and positive role to play in spurring industrialisation and economic transformation. Ensuring that businesses are up and running, promoting access to the capital that will keep the wheels of business moving, maintaining macroeconomic stability, making available public goods such as an efficient bureaucracy, a strong adherence to the rule of law and a fair and equitable social system in health and education delivery are some of the major responsibilities of government. The government of Ghana is addressing each one of them.”

President Akufo-Addo also announced plans to build the capacity of Ghanaian enterprises to play key roles in the economy.