The energy crisis and access to finance continue to be the two leading challenges burdening all sectors of the Ghanaian economy, a University of Ghana Business School (UGBS) report on the economic environment and business performance has revealed.

According to the maiden edition of the Ghana Business Development Review (GBDR), a research-based biennial review of development and performance of businesses across various sectors of the economy, efforts at ending the power crisis should continue, while innovative solutions be found to the age-old lack of access to credit which impacts negatively on business operations.

The mining, hospitality and manufacturing sectors bore the largest brunt of the power challenges, it said.

These findings were contained in the report which tracks the performance of businesses, analyses the business environment and provides an outlook for growth and investment opportunities to assist businesses and prospective investors to make informed decisions.

Maiden edition

The Vice-Chancellor of the University of Ghana, Prof. Ernest Aryeetey, launched the 232-page report in Accra last Thursday.

The GBDR has 15 chapters, starting with an overview of the economic and business environment, with the rest covering sectors such as the manufacturing, agribusiness, mining, real estate, tourism, financial services, health and pharmaceutical sectors.

A unique feature of the report is its approach to capture the figures and facts from the firm level (micro level), as opposed to many reports which look at aggregate numbers from the macro perspective.

The Dean of the UGBS, Prof. Joshua Yindenaba Abor, who led the team to put the report together, said the energy crisis emerged as a cross-cutting challenge which required greater efforts to resolve.