Trade Minister Hints at Business Regulatory Reform Programme Implementation to Boost Private Sector Growth 

Trade Minister Hints at Business Regulatory Reform Programme Implementation to Boost Private Sector Growth 

The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has reaffirmed the government’s commitment to improving Ghana’s business environment through the implementation of the Business Regulatory Reform Program (BRRP).

Speaking at the launch of the 2024 Ghana Business Ready Report by the World Bank on Wednesday, March 26, 2025, the Minister highlighted the government’s efforts to streamline regulations and remove barriers that hinder business growth in the country.

“The BRRP is designed to tackle systemic challenges, streamline existing regulations, and ensure the quality and coherence of new regulations,” she stated. “This reflects the government’s unwavering commitment to removing long-standing barriers that have prevented businesses in Ghana from realizing their full potential.”

She further noted that the initiative aligns with the government’s economic transformation agenda, which aims to boost manufacturing, advance agribusiness, expand access to external markets, and enhance private sector expertise.

World Bank’s Support for BRRP

The Minister expressed gratitude to the World Bank for its continued support of the BRRP through the Ghana Economic Transformation Project. She emphasized that the program is not just about improving rankings but about creating a sustainable, inclusive, and digitally driven business ecosystem.

“The BRRP offers a unique opportunity to address challenges in our business environment while building on our strengths. It is about creating an ecosystem where businesses can thrive, where innovation is encouraged, and where every business in Ghana has the opportunity to grow,” she added.

Challenges Facing Ghanaian Businesses

The Minister speaking further at the launch, acknowledged the persistent challenges that businesses—particularly SMEs—face, such as limited access to finance, complex regulatory frameworks, and global market competition.

“Our informal sector, which employs a significant portion of our workforce, often operates outside a formal regulatory framework, limiting its growth potential. This is where BRRP comes in handy,” she noted.

Key Insights from the 2024 Business Ready Report

The 2024 Business Ready Report examined 10 critical areas of business operations which include:

• Business entry
• Business location
• Utility services
• Labour
• Financial services
• International trade
• Taxation
• Dispute resolution
• Market competition
• Business insolvency

These areas were assessed based on three key pillars: regulatory framework, public services, and operational efficiency.

The Path Forward

The Trade Minister called for greater collaboration between the government, the private sector, and development partners to ensure the success of the BRRP.

“The journey ahead will not be easy, but it is a journey worth taking. Let us seize this moment to transform Ghana’s business environment and create a legacy of prosperity. Together, let us reset Ghana and make our business environment ready for a 24-hour economy,” she concluded.