Government has stated its plans to reduce the registration period of businesses from two weeks to four days.
The move is aimed at reducing the cost of doing business in Ghana.
Currently, people who wish to register their business go through a stressful sixteen day period or more to complete the process.
This also contributed to Ghana placing 108th in the latest World Bank’s ease of doing business report.
But addressing some concerns at the National Policy Summit on Monday, Finance Minister, Ken Ofori Atta said government has put in place measures to reduce the time and process involved in registering businesses in Ghana.
“The issue of cost of doing business is a real issue and one of the key performance indicators we just gave our Chief Director is that anything that comes into the ministry within ninety-six hours, it should be out.”
He added that the government is targeting a forty-eight hour registration process to match up with that of Rwanda. Rwanda currently holds the shortest time for business registration in Africa.
” We’re hoping to move towards the Rwanda target of about forty-eight hours. And that also means that we at the ministry are going to see less of you.”
According to Mr. Ofori Atta, the ministry is also doing this to reduce corruption in the country as well.
“We just need to create that environment where we respond to you quickly, I don’t need to see you for you to get your certificate.” he stated.
Key indicators that Ghana improved between 2016 and 2017 were starting a business, registering property, trading across borders and resolving insolvency.