Ghana has emerged as one of sub-Saharan Africa’s strongest performers in financial services readiness, recording an overall score of 72 percent in the latest World Bank assessment.
The findings underscore the country’s solid regulatory foundations and growing digital finance ecosystem, while also highlighting persistent gaps in public service delivery and operational efficiency that could limit Ghana’s ability to attract sustained private investment.
The assessment was presented at a dissemination event in Accra that brought together policymakers, private sector leaders and development partners to review Ghana’s performance and discuss reform priorities. The report evaluates economies across three pillars: Regulatory Framework, Public Services and Operational Efficiency.
Strong Overall Performance in Financial Services
With a 72 percent overall score, Ghana ranked ahead of many of its sub-Saharan African peers, reinforcing its position as a regional frontrunner in financial services readiness. The country recorded a score of 69 in Regulatory Frameworks, 50 in Public Services and 52 in Operational Efficiency. The results point to a widening gap between strong rules on paper and the speed and effectiveness of implementation.
Financial services and labour emerged as Ghana’s strongest-performing areas. The report commended the regulatory environment supporting secured transactions and electronic payments, which has helped to expand access to finance and support digital innovation. Ghana also ranked within the top 20 percent of economies globally in labour, scoring 71, reflecting strengths in workforce participation and labour market fundamentals.
Regulatory Strength Outpaces Service Delivery
Regionally, Ghana’s regulatory framework was ranked the strongest among its peers, while its public services score trailed only Togo’s. The World Bank, however, stressed that regulatory strength alone is insufficient without efficient service delivery.
Robert Taliercio, World Bank Division Director for Ghana, Liberia and Sierra Leone, described Ghana’s performance as strong but incomplete. He said the country had performed well “in World Cup terms” but still faced a significant delivery gap. According to him, Ghana’s gross capital formation is around 10 percent of GDP, compared with roughly 30 percent in industrialising economies such as Morocco.
“The gap between strong rules and slower delivery affects how investors assess risk, cost, and predictability,” Mr. Taliercio said. He linked the findings to the government’s proposed 24-Hour Economy programme, noting that the initiative is less about extended working hours and more about system readiness, including efficient ports, utilities and regulators.
Public Services and Operational Bottlenecks
While Ghana’s regulatory environment scored relatively high, weaknesses in public services and operational efficiency were more pronounced. The public services score of 50 and operational efficiency score of 52 indicate challenges in translating policy into action.
International trade was cited as a clear example. Despite a strong regulatory framework, import clearance in Ghana takes an average of 23 days, compared with eight days in peer economies such as Cameroon. The report noted that delays at ports and border agencies increase costs for businesses and reduce competitiveness.
Market competition also emerged as a major weakness, with Ghana recording a low score of 34 percent. Deficiencies in business insolvency and dispute resolution systems were highlighted as factors that limit firm exit and entry, discourage innovation and raise risks for investors.
Private Sector Engagement and Reform Agenda
Kyle Kelhofer, Senior Country Manager for the International Finance Corporation for Ghana and Liberia, described the engagement around the report as action-oriented. He urged businesses to help identify inefficiencies and propose practical solutions to reduce delays and bottlenecks across the economy.
He said the World Bank Group is focused on supporting reforms that improve firm productivity and unlock the private investment needed for job creation. According to him, addressing operational inefficiencies requires close collaboration between government agencies and the private sector to ensure reforms respond to real business constraints.
Pathways to Unlocking Growth Potential
To unlock its full growth potential, the World Bank recommended streamlining export restrictions, improving transparency in licensing systems and clarifying penalty procedures. These measures, the report noted, would reduce uncertainty for investors and improve predictability across key sectors of the economy.
Despite the challenges identified, the report expressed optimism about Ghana’s reform trajectory. It highlighted the recent introduction of a Trusted Trader programme, which is expected to significantly improve border efficiency and reduce clearance times for compliant firms. The initiative is seen as a positive step toward strengthening Ghana’s performance in future assessments.
Ghana’s 72 percent score in the World Bank Financial Index reflects a country with strong foundations and significant promise. The regulatory environment, digital finance readiness and labour performance provide a solid base for growth. However, the assessment makes clear that closing the gap between rules and delivery is critical.
As Ghana pursues ambitious programmes such as the 24-Hour Economy and seeks to boost private investment, improving public service efficiency and operational effectiveness will be essential. The World Bank’s findings offer both validation of progress made and a roadmap for reforms needed to translate readiness into real economic transformation.
