High cost of utility still remains one of the major challenges confronting businesses in Ghana.
This is according to the Association of Ghana Industries (AGI)’s 2016 fourth quarter business barometer report.
According to the report, high cost of credit, multiplicity of taxes and cedi depreciation followed closely as top challenges for businesses.
Comparing the third and fourth quarters of 2016, 70% of businesses surveyed expected business confidence to improve.
This was higher compared to the about 57% recorded in the previous quarter.
Meanwhile, the number of businesses who expected business confidence to remain the same dropped from 37 to 26% within the two quarters.
Similarly, businesses who expected confidence to be worse than normal, dropped, from 6.2 to 3%.
The report, therefore, indicates that business confidence is beginning to rise, from 99.0 in the third quarter to 101.6 points in the fourth quarter of 2016.
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