CEO Network Ghana calls for review of business regulations
THE Founder of CEO Network Ghana, Ernest De-Graft Egyir, has advocated a comprehensive review of Ghana's business regulatory environment to enhance competitiveness and drive economic growth.
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He said by eliminating bottlenecks and streamlining processes, Ghana could create a more vibrant and dynamic business ecosystem that would benefit both local entrepreneurs and international investors.
Ghana’s business regulatory framework, like many developing countries, faces challenges including complex and time-consuming registration processes; multiple or sometimes overlapping regulatory bodies; inconsistent regulations; high compliance costs and bureaucratic red tape.
These factors have been identified as major barriers to entry for new businesses and obstacles to growth for existing ones.
At the launch of the maiden Ghana CEO Presidential Manifesto Gala Dinner in Accra yesterday, Mr Egyir said, “Ghana's business regulatory environment must undergo a comprehensive review to eliminate bottlenecks and streamline processes.
“Simplifying regulations will encourage investment and enable local businesses to thrive.”
He also called for the establishment of a permanent business advisory council which would work closely with the incoming government from 2025, to provide ongoing input on policies and ensure businesses have a voice in government decisions.
Gala Dinner
The maiden Ghana CEO-Presidential Manifesto Gala Dinner slated for November 7, 2024 in Accra presents an opportunity for businesses to shape Ghana's economic and political future.
On the theme: "Reigniting the Business Economy and Social Contract for Growth: A Business Manifesto for Political Accountability and Sustainable Development," the event will feature a dialogue between Ghana's top business leaders and political figures, to foster collaboration, drive accountability, and chart a path toward sustainable growth.
“Ghana's economic potential remains unmatched, yet challenges such as economic instability and the need for greater political transparency persist.”
This Gala will aim to reset the partnership between business and political leadership through a renewed social contract based on trust, accountability and a shared vision,” Mr Egyir said.
He explained that the road to sustainable development required collaboration between the private sector and political leadership.
“Together, we can create an environment where businesses thrive, governance is transparent and the economy grows for all Ghanaians,” he added.
Social contract signing
The CEO of Margins Group, Moses Baiden Jnr, said the Gala Dinner signified a beacon of progress, a call to action, and a defining moment for the business and political landscape of Ghana.
According to him, the event will provide businesses with a unique opportunity to voice their concerns and collaborate closely with the country’s political leadership to chart a course towards sustainable economic progress.
“The commitments that will emerge from this platform, be it the Social Contract Signing or the promotion of Public-Private Partnerships (PPPs), will be vital steps toward creating an enabling environment for businesses and protecting the future of our country,” he said.
“As business leaders, our role in Ghana's economic transformation is more critical than ever. We must ensure that the policies enacted reflect the realities of the business landscape and foster growth.”
This event gives us the chance to make our voices heard and secure a future that works for all Ghanaians,” Mr Baiden added.