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Ghana Launches Cost Effective Business Regulatory Reforms Platform
Posted On 05 Sep 2020
By Richard Adorsu-
Photo Credit: Modern Ghana
NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana– The Ministry of Trade and Industry has officially launched the Ghana Business Regulatory Reforms Portal which is an interactive portal that would enable policy makers easily consult affected businesses and individuals in a transparent and timely way and at considerable cost savings.
It is also intended to provide open and transparent access to business regulations, through its Electronic Registry of Acts, Legislative Instruments, Regulatory Notices, Administrative Directives, Procedures, forms and fees.
The Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay revealed that since 2017, the government has been ensuring that the introduction of this portal would clean up or simplify existing business regulations which are inefficient or are not business-friendly.
According to the Deputy Minister, the portal would facilitate adequate consultation with private sector during the rolling out of regulations and reforms.
“The essence of this is to ensure that when we the public sector want to do anything that is associated with regulation, we have the basis to ensure we have full feedback from you our key stakeholders. And no regulation would have to be rolled out without this being done. Businesses do not like surprises. They want predictability,” The Deputy Minister asserted.
The CEO of Indexcom Ltd, technical support group for the Ministry in the development of the Ghana Business Regulatory Reforms Portal demonstrating the use of the portal, disclosed that in its e-registry component, any business person can access from over 5000 laws pertaining to his or her business by the use of the search engine.
“In consultations, during the initial stages, it came out clear that the business user wants something that is straightforward, and simple. Therefore, it is important that when you’re dealing with over 5000 laws, you provide a search engine,” he explained. The array of public and private sector representation at the launch, in turns commended the government on leveraging on technology to ease business relations with policy makers.
“Doing business across the world today, requires innovation and systems that can enable business people save time and resources. It is with this novelty, that can enable Ghana as a country, integrate into global systems,” Seth Twum Akwaboah, President of the Association of Ghana Industries said.
The Minister of Trade and Industry, Alan Kwadwo Kyeremanteng, stated that this initiative is one of the main strategies to make Ghana the most business friendly economy in Africa. He also highlighted that this kind of innovation is intended to strengthen the ties between private sector and Government towards the Ghana beyond Aid agenda, where the private sector would enjoy an improved working environment.
“If now it is becoming clear to us, we need the private sector to finance our development for us, then you have to start thinking of how to attract private capital. It is again, an incontestable fact that private capital moves to destinations where they are pampered and where their value is recognized,” he elaborated. Members of the public who want to participate in the consultation process for formulating business-related policies and regulations were urged to register on the portal.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
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Ghana is ready for business. Come invest in Ghana. We do have vibrant young work force. Enjoy reading your reports. Kumasi Ghana. Minkah
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The business regulatory reform Portal would make businesses and the government greatly work together, for a collective measured success. Let’s make business great. Accra Ghana. Yamha
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Our government in Ghana, doing great job. Let us double our GDP within the next few years. Yes, is dowable. Thank you, Richard for reporting. Accra Ghana. Ajoba
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Am very excited on all these developments in our great continent. Let us use all we have to develop the continent and our people. AND OUR GOVERNMENTS NEED TO STOP TAKING BAD LOANS OR LOANS IN GENERAL. HISTORY TEACHES US LOANS WOULD NEVER AND EVER DEVELOP A COUNTRY OR CONTINENT. WE ARE EXTREMELY BLESS WITH LOT OF NATURAL RESOURCES, LET US MAKE THE BEST USE OF IT. MAKE AFRIKA GREAT! Dina in Addis Ababa, Ethiopia
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You did hit on it, Dina. Rubber stamp African Leaders all over the Continent need to get out the way for young African educated Pan Africanist to lead. Most of these Leaders would sign any form of loan head their way, they never care of attached conditions. Do you know between 35% and 40% of our Continent’s GDP goes to either servicing or paying loans, some of these foolish so call Presidents. How can a Nation or Continent develop within this situation. I like to thank new Africa business news for covering the whole Continent. Megan in Johannesburg, South Africa
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Rubber stamp African Leaders need to get out of the way. Thank you for reporting. Jenna in Nairobi, Kenya
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