World Bank: Ghana Overtakes Nigeria To Become Best Place To Do Business In West Africa!

World Bank ranks Ghana as the best place to do business in West Africa. Nigeria and Cote d’Ivoire followed second and third respectively.

The latest World Bank report has indicated that Ghana is the best place for doing business in West Africa. According to the rankings, Ghana beat the biggest economy in the West African sub region, Nigeria and its neighbour, Ivory Coast, to become the best place for doing business.

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Ghana emerged 1st in West Africa, followed by Nigeria which placed second; and Cote D’Ivoire which came in third. The World Bank rated 190 countries, which indicate marginal progress in several areas. On the African continent, World Bank ranks Ghana as the ninth best place for doing business after Lesotho and Zambia.

Nigeria which followed was ranked behind, due to what the bank described as factors inconsistent with survival of businesses in the country.

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Mauritius once again ranks best in the region, with an overall Doing Business Global Ranking of 49. Mauritius according to the rankings, performed best in the areas of Protecting Minority Investors and Dealing with Construction Permits, with a rank of 32 and 33 respectively.

Furthermore, Ghana recorded its biggest jump in the area of trading across borders, going up by 13 places to 167 out of the 190 countries ranked.  On the global front, Ghana’s performance went up globally by three places to 108 out of 190 countries ranked.

The country however, did not do so well in the time taken to start a business. It went down by seven places to 103 and dealing with contracts permit also went down by five places to 112. Also, in the category of facilitating easy mode for firms to pay taxes, Ghana went down three places to 119.