Policy think tank, IMANI-Africa has revealed that at least 10% of businesses operating in Ghana have had corruption as the bedrock to their survival.
Despite the fact that many businesses say their success has been stifled by corruption, a few others admit they have thrived as a result of it.
This was made know at a survey conducted by IMANI Centre for Policy and Education, whilst 83% of top executives of organisations believe corruption is hindering their business growth, 10% of their respondents said the menace has been the fulcrum of their enterprises.
The research, which was on the theme; ‘The Risk of Corruption to Entrepreneurial and Business Growth in Ghana,’ was 6th of IMANI-GIZ Reform Dialogue Series (RDS) commenced about a year and a half ago.
Corruption, even though unacceptable in Ghana, has been prevalent over the years with many governments paying lip service to it fight and is common knowledge that it has stifled progress in various aspects of the society.
The sixth dialogue focused on the supply and demand side of corruption, the internal and external dimensions of corruption, and impact of corruption on businesses.
Speaking to the Republic Press on the sideline during the presentation, a Consultant at IMANI, King Carl Tornam Duho, explained that the team engaged top executives of organisations across the country because “we saw that in the previous studies, a lot of focus has been on the public sector ignoring the private sector and the point is that when the private sector issues are not solved, the business climate will not be enhanced, the ease of doing business will not be good and then the impact on growth would be reduced.”
“We looked at corruption and business environment; how is corruption affecting the business context in Ghana. Then we also looked at corruption and firm performance; how is corruption affecting performance of the firms and we saw interestingly that about 83% of the executives were indicating that for their firm’s corruption reduces the performance but 10% of these executives indicating that corruption is making them survive. It is what is driving their performance so you realise that the responses are different,” Mr. Duho added.
With an independent institution such as the Office of the Special Prosecutor (OSP) that was tasked to execute a Corruption Risk Analysis, Mr. Tornam Duho underscored the need to enhance Risk Analysis to serve as a coping mechanism for not only the public but the private sector as well.
“And then we also looked at corruption management. In the literature there are issues of how to manage corruption. Issues about education, communication, corruption analysis, and you saw that in the case of the Special Prosecutor, he was engaged to do a corruption risk analysis and this was not just for the public sector but also for the private sector to ensure that they do this risk analysis to ensure that they are also coping,” he explained.
The IMANI Consultant also noted that even though there have been variant responses per their statistics, their aim is to identify the key trend of what should be the best practice which the team seeks to achieve by providing solution through leadership engagement and adopting international practices.
About the IMANI-GIZ Reform Dialogue Series
The reform dialogue series has already had five fora discussing;
- The Challenges and Opportunities created by the Covid-19 Pandemic for Ghanaian Businesses
- What the African Continental Free Trade Area means for Ghanaian Businesses
- Business Taxation and the Road to Ghana’s Post-Covid Economic Recovery
- Access to Affordable Energy to Support Economic Growth and Job Creation in Ghana and
- Business Registration, Regulation, Property Rights and their Impact on Ghana’s Business Climate.
Mr. Tornam Duho added the research team used the various research tools throughout the series to engage the expert, synthetise the issue that came to fore during the discussions and they have key recommendations which are eclectic and comprehensive enough to address the challenges in their respective sectors to enhance the ease of doing business in Ghana.
Institutions present at the dialogue included the Ghana National Chamber of Commerce, GUTA, Registrar General, Ghana Integrity Initiative, the Ministry of Trade and Industry amongst others.