Peter Bismark, Chief Executive Officer of the Institute for Liberty and Policy Innovation (ILAPI), has expressed concern over Ghana’s rising cost of doing business, blaming regulatory inconsistencies and limited public awareness for stifling entrepreneurship.
Speaking in an interview with Kwadwo Sefah Danquah on Happy 98.9 FM, Bismark recounted a personal experience as a business owner. He explained that while driving from Tema into Accra, he was intercepted by officials of the Accra Metropolitan Assembly (AMA) for displaying a promotional sticker on his vehicle.
Unaware of the advertising permit requirement, he was compelled to pay GHC770 on the spot to regularize the sticker.
“This is a clear case of information asymmetry. I had no prior knowledge of AMA’s bye-laws, and yet was penalized immediately upon entering Accra. If the same vehicle had remained in Tema, this wouldn’t have happened,” he lamented.
Bismark further noted that businesses in sectors such as food and pharmaceuticals face even greater challenges, as they must also obtain advertising approval from the Food and Drugs Authority (FDA) before running promotions on radio or television.
“This means entrepreneurs are paying twice, once at the local level for physical advertising, and again at the central level for media promotions,” he explained.
He stressed that such fragmented regulations inflate operational costs, discourage innovation, and disproportionately burden small and medium-sized enterprises.
Bismark called on policymakers to harmonize policies and establish a centralized permit system, arguing that streamlined and transparent processes are vital for fostering a business-friendly environment in Ghana.
SOT
