Standards and Regulation in Ghana

The country possesses numerous regulatory bodies. The financial sector is overseen by the Bank of Ghana, whilst the Ghana Free Zones Board enables the establishment of free zones in the country for the promotion of economic development and to provide for the regulation of activities in free zones. The National Labour Commission aims to develop and regulate harmonious industrial relations and promote co-operation in the labour market. Other notable regulatory bodies include the Public Utilities and Regulatory Commission, the Securities and Exchange Commission, the National Commission on Culture and the National Petroleum Authority. 

Ghana is a member of the International Organization for Standardization (ISO). The Ghana Standards Board (GSB) is the national standards body that promotes standardisation for the improvement of quality of goods, services and sound management practices in industries and public institutions in Ghana. GSB participates in the IEC (International Electrotechnical Commission) affiliate country programme. There are several certification bodies listed in Ghana, such as Bureau Veritas Ghana, Cotecna Ghana and SGS Ghana. 

In the World Bank’s Ease of Doing Business Index (2012) Ghana ranked 63rd out of 183 countries in terms of the overall ease of doing business. The West African country scores most highly with regard to getting credit, placing 23rd overall and 4th in relation to sub-Saharan African nations. It also scores relatively well in comparative terms with regard to the time taken and ability to register property (45th), protecting investors (49th), and enforcing contracts (48th). It places less well in terms of starting a business (112th), dealing with construction permits (162nd), paying taxes (89th), trading across borders (99th) and resolving insolvency (114th). In comparison with sub-Saharan African countries, Ghana scores relatively better. It is ranked 5th overall in relation to the ease of doing business and is the second highest country in the sub-Saharan African region in terms of registering property – it takes around a month and the cost is only 0.7% of property value compared to a sub-Saharan African average of 9.4%.