DPA admits making a mistake on Ghana's position on Africa Investment

Accra, July 21, GNA - Deutsche Presse-Agentur (DPA) has admitted that they made a mistake in ranking Ghana the fifth least attractive investment destination out of 21 African countries surveyed. Indeed Ghana was ranked the eighth most attractive place to do business in Africa, coming after Botswana; Tunisia; Gambia; South Africa; Mauritius; Egypt and Tanzania.

This corrects an earlier report the Ghana News Agency carried from the DPA on June 11.

The GNA had sought clarification from the DPA, the original source of the story, following a political furore over the report. Below is the corrected repetition of the story: Botswana is the most attractive place to do business in Africa, outshining even its powerful regional neighbour South Africa, according to a study released Wednesday.

"The report released by the World Economic Forum at the start of its Africa Economic Summit in South Africa was compiled from response of more than 1,700 business leaders in 21 African countries. Botswana, which scored highest in both areas surveyed - the Contracts and Law Sub-Index and the Corruption Sub-Index was followed by Tunisia, Gambia and South Africa.

Mauritius was listed as the continent's fifth most appealing economic destination followed by Egypt, Tanzania and Ghana. Chad was found to be worse African country in which to conduct business. It scored the lowest in all areas under review, researchers said.

Costs due to organized crime dragged down South Africa's ranking, the report said.

Strife-torn Zimbabwe was ranked 16th overall. Its performance was "weighed down by the lowest score in terms of independence of its judiciary", the report said. It also scored second lowest in perceptions relating to the neutrality of government public decisions, the report said.

For the first time this year, researchers applied the same set of questions for African respondents as it did in compiling its Global Competitiveness Report due for release later this year. "We did not compromise," its author, Fiona Paua told Deutsche Presse-Agentur, dpa.

"We are only asking business leaders operating in that specific country," to rate it, she said. The study serves as a key source of information for the World Bank.