The UK- Ghana Chamber of Commerce (UKGCC), a member-based trade association that promotes trade between the UK and Ghana, has released the 6th edition of its annual Ghana Business Environment and Competitive Survey (BECS) Report for the year 2024. 725 businesses across Ghana comprising UKGCC member and non-member companies from 22 industries and ranging from small to large companies, participated in the survey. Business components assessed included availability of telecom, power, labour, water, and logistics partners, taxation policy, cost of telecoms, government bureaucracy, regulatory framework, and government support of exports.
The report reveals a mixed picture of Ghana's business environment. While businesses express cautious optimism about future growth, particularly in technology adoption and market expansion, significant challenges remain.
Key Survey Findings The survey identifies taxation policy, cost of telecoms, government bureaucracy, and the regulatory framework as the top concerns for businesses in 2024. For the first time, cost of telecoms and the regulatory framework appeared on the list of poorly rated business components, emphasising areas that require immediate government attention to enhance Ghana's business environment.
Despite challenges, businesses rated the availability of telecom facilities as the best-performing business component, though this rating declined from 36% in 2023 to 20% in 2024. Other positively rated components include the availability of power, labour, water, and logistics partners.
