Ghana: Access to Finance A Major Challenge to Doing Business

Posted to the web 25 July 2008 Frederick Asiamah Private sector business executives have identified access to financing as the major challenge to doing business in Ghana , according to results of the Executive Opinion Survey 2008 - Ghana. Access to finance scored an average of 222 points out of a possible 500 and was ranked 30 times by respondents as the main challenge to doing business. It scored more than 250 points among excutives of Ghanaian-owned businesses while excutives of foreign-owned firms gave it less than 150 points, suggesting they had easy access to finance than their local conterparts. Managers of the Ghanaian economy have said that the private sector had more access to credit now than before, but the study appeared to put a dampener on the claim. Presenting the findings in Accra on Tuesday, Mr Tony... [read full story]