AfDB confident Ghana’s election petition won’t affect business climate

The African Development Bank (AfDB) says it is currently working with Ghana to improve the business environment in the country.

And according to the Tunis-based multilateral institution, despite the ongoing election petition which many believe could hamper investor confidence, the business climate is strong and favourable.

“For us, Ghana has a fundamental place and I do not think your business environment could be affected by the election. It is not directed to elections,” said Mr Ndoumbe Lobe, AfDB’s Director for governance, economic and financial management.

Mr Lobe made the statement at a media encounter in Tunis April 24, 2013 in response to a question posed by ghanabusinessnews.com on how the ongoing Ghana election petition could affect the business climate.

According to Mr Lobe, Ghana going to the bonds market sometime back to raise funds was a sign of emphasis on the economy.

He said there could be political issues but hopes it is resolved very soon. “There could be political issues but we hope that those could be resolved very soon,” Lobe added.

The opposition New Patriotic Party (NPP) is challenging the election results announced by the Electoral Commission in December 2012 that announced Mr John Dramani Mahama the President of the Republic.

According to Mr Lobe, the AfDB will continue to work with Ghana “in confidence” and the Bank has a budget support operations which main objective is to “support reforms in the areas of business environment”.

Mr Lobe stated that the Bank also has what it calls institutional support operations for Ghana whose objective is to help the country to strengthen capacities of institutions dealing with issues relating to enabling business environment.

By Ekow Quandzie in Tunis, Tunisia