The UK Trade Commissioner for Africa, John Humphrey, has acknowledged that both Ghanaian and British businesses face similar challenges when navigating government regulations.
He stressed that finding the right balance between oversight and ease of doing business is a universal struggle.
Speaking on Joy FM’s Super Morning Show on Wednesday, September 24, Mr Humphrey noted that while regulation is essential for consumer protection and financial security, overregulation can hinder business growth and innovation.
“I think all businesses have challenges with government policies and we have the same in the UK as well,” he said. “It is not easy to get that balance right. You need regulation, you want goods to be safe, you want people to feel that their money is safe. But you don’t also want to over-regulate.”
He drew parallels between business conditions in Ghana and the UK, citing the example of product registration requirements in Ghana as part of the wider regulatory landscape that businesses must navigate.
“At the same time, I think it is like Ghanaian products register. So I think all governments struggle with those things. I don’t think it is different for Ghana and UK companies,” he added.
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