Getting electricity to do business in Ghana ranks 136 – World Bank Index

The latest World Bank Doing Business Index 2018 has ranked getting electricity to do business in Ghana at 136.

The overall score of ease of doing business in Ghana stood at 120 out of 190 and scored 57.34 as overall distance-to-frontier (DTF) with an estimated population of 28.2 million.

The country ranked 110 in starting a business, scoring a DTF for a business at 84, undergoing eight procedures, in 14 days, recording cost (Per cent of income per capita) at 17.5 as well as one needing a minimum capital (percent of income per capita) of 1.7 commence business.

Ghana ranked 131 in ‘Dealing with Construction Permits’ and scored a DTF of 61.90, additionally, ranking for ‘Getting Electricity’ stood at 136 and DTF 56.81.

Again, 119 was registered under ‘Registration of Property with a score of 55.50 DTF.

Under ‘Getting Credit’ and ‘Protecting Minority Investors,’ marks of 55 and 96 were gained with their DTF standing at 65 and 51.67, respectively.

Paying Taxes,’ ‘Trading Across Borders’ and “Enforcing Contracts’ ranked 116, 158 and 116 as against a DTF scores of 66.47, 52.32 and 54, respectively.

According to the report, ranking for ‘Resolving Insolvency’ stood at 158, DTF 24.77, taking 1.9 years to resolve issues, costing 22.0 (percent of estate), a recovery rate of 22.8 percent as well as strength of insolvency framework index scoring 4.0.

The World Bank Group’s flagship publication, Doing Business 2018 dubbed; “Reforming to Create Jobs”, measures the regulation that enhances business activity and those that constrain it, a release issued Tuesday says.

The Index presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time.

It said Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business:

These are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labour market regulation, which is not included in this year’s ranking.

It said data in Doing Business 2018 are current as of June 2017 and the indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where and why.

Main findings

The report finds that entrepreneurs in 119 economies saw improvements in their local regulatory framework last year. The report documented 264 business reforms between June 2016 and June 2017.

Reforms reducing the complexity and cost of regulatory processes in the area of starting a business and getting credit were the most common in the period under review. The next most common reforms were in the area of trading across borders.  

Brunei Darussalam, Thailand, Malawi, Kosovo, India, Uzbekistan, Zambia, Nigeria, Djibouti and  El Salvador were the most improved economies in 2016/17 in areas tracked by Doing Business. Together, these 10 top improvers implemented 53 regulatory reforms making it easier to do business.

It said economies in all regions were implementing reforms that were easing the process of doing business, but Europe and Central Asia continues to be the region with the highest share of economies implementing at least one reform.

It noted that 76 per cent of economies in the region have implemented at least one business regulatory reform, followed by South Asia and sub-Saharan Africa.

The report features four case studies in the areas of starting a business, dealing with construction permits, registering property and resolving insolvency, as well as an annex on labor market regulation.

By Maxwell Awumah
Copyright ©2017 by Creative Imaginations Publicity
All rights reserved. This news item  or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in reviews.

Leave A Reply

Your email address will not be published.