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15.03.2009 Business & Finance

Crime is major challenge to Ghana's private sector


Crime is one of the major problems that Ghana's private sector is confronted with, according to a survey report by the Association of Ghana Industries (AGI).

Among the four challenges facing businesses in Ghana, are high inflation rates, cost of credit, high levels of taxation and crime, according to the report which sampled the views of 519 CEOs in the country. The Business Climate Survey is conducted annually by the AGI.

Crime is a major challenge to businesses in Ghana. The police are ill-equipped to deal with crime and sometimes compromised in such matters. The courts are also slow at trying cases involving businesses further increasing the cost of doing business in Ghana.

Commenting on the survey results at a ceremony in Accra, the AGI President, Mr. Tony Oteng Gyasi said β€œOne of the competitive advantages that Ghana has is security, and if the country loses that in the sub-region, the country would be giving away a very competitive advantage.” He therefore, called on all Ghanaians to assist the law enforcement agencies to tackle crime in the country.

The survey covering all the 10 regions of the country, however, shows that the CEOs have confidence in the economy and predicted a steady growth for 2009.