Oxford Business Group (OBG) indicates robust confidence levels among senior executives, suggesting that reforms aimed at steadying the economy are beginning to yield results.
As part of its year-long survey, the global research and consultancy firm asked over 100 C-suite executives from across the country’s industries a wide-ranging series of questions on a face-to-face basis aimed at gauging business sentiment. The results of the survey are now available to view in full on OBG’s Editors’ Blog.
The vast majority (91%) of respondents surveyed described their expectations for the local business environment this year as positive or very positive while, in answer to a separate question, 80% thought the company they represent was likely or very likely to make a significant capital investment over the same period.
OBG’s survey was undertaken as the phased implementation of new policies aimed at galvanizing growth and diversifying the economy away from hydrocarbons gathers momentum.
When asked which policy they would like to see prioritized to support growth, almost two-thirds (62%) of respondents put improving the business environment at the top of their list, well ahead of administrative reform and reducing the deficit, which came second and third respectively and were both selected by less than 15% of those surveyed.
Asked which external factors they felt could weigh most heavily on growth, some 37% of business leaders interviewed cited rising oil prices, indicating the key role that hydrocarbons continues to play in the national economy, followed by regional instability and easing demand growth in China.
A separate question on doing business in Ghana, meanwhile, revealed the challenges that executives sometimes face when it comes to borrowing, with 70% of those surveyed describing access to credit as difficult or very difficult.
Copyright © 2019 Ghanalive.TV. All Rights Reserved.