Ghana Sadly Slipped 5 places in the World Bank’s 2010 doing business index. This index measures which countries are improving their processes and business environment for investors.

 

The index has become a very respected measure of which countries are making progress towards making their countries business friendly. Needless to say it has become a very important tool for investors.

 

Ghana slipped from the 87th position to 92, losing 5 places. Apart from 3 areas, we went back in almost all the indexes. This indicates that we have become a less attractive destination to investors.

 

In a recent international conference on Promoting the Business Process Outsourcing industry in Ghana, Mr. Mark Davies, founder of BusyInternet stated that Investors check international indices and take them seriously when looking for where to invest; as an investor he consulted such reports before coming to Ghana. This underlies the importance of these reports in attracting investment.

 

These statistics are collected from within the country, from credible independent sources, usually existing businesses operating here. It means how a country treats its current companies and investors are crucial in determining how well it will do in attracting more investment. 

 

It is thus a ‘no brainer’ to derive that, it is near futile to embark on investment promotion ventures and trips without ensuring that the current crop of investors here, both local and foreign are well taken care of, and obstacles removed from their way. If we listen and act,

to help those here now, we will attract more investors.

 

We were beaten by countries emerging from war, like Rwanda (no. 67) and Serbia (no. 88). Some may say they are coming from a very low point, but that is not exactly accurate, these countries have been stable for a while, and are working (just as we are) on their investment climate, but Ghana has had more time and stability to do better, we should have made more progress. This is a competition for investment, and it is a zero sum game, the more others get, the less you get.

 

We need to take a deep hard look at what we are doing wrong and get our act together before too long.

 

The whole world is in competition and if we don’t get things right soon, we will be out-competed, the result will be that we will always get the crumbs from the table after others have taken the better portions.

 

Ghana’s economy runs on about 5,000 companies (from large to small). Making life easier for 5,000 companies in the land size of Ghana with a population of 23 million people is not an impossible task, we must get it right.

 

Contrary to what we like to believe, a hard look will show that our problems are not too tough to crack, Ghana has great people at all levels of society, We don’t have the debilitating wars that have crippled our neighbours, we have 12 months of sunshine, no hurricanes, no tornadoes, no earthquakes, no snow and blizzards, even our harmattan wildfires are mild, compared to the California fires, etc, etc; in short we don’t have insurmountable problems.

 

So what prevents us from getting our heads together and dealing with the issues that confront us, and opening up the space for businesses to do business, employ our people, improve our lives, and realize the greatness in our destiny??? Pres. Obama told us that solutions to Ghana’s problems are right here.

 

Our problems are not insurmountable, let’s believe in ourselves and get to work.

 

To be fair, some of the information in the report is a bit too flattering and others too critical, but by and large this is a good picture of what we are, our response must not be to dismiss it and just go off