Ghana's Chief of Staff, Julius Debrah, has emphasized the need for faster resolution of commercial disputes to support the country's 24-hour economy and investment ambitions. Speaking at the maiden Annual Bar Conference of the Ghana Law Society on September 30, Dr. Debrah highlighted the importance of a legal system capable of keeping pace with modern business. He noted that regulatory uncertainty and delays in enforcing contracts increase risks for businesses and can undermine investment.
Dr. Debrah stressed that Ghana's ambition to become a competitive investment destination and a 24-hour economy requires laws that keep pace with modern commerce. He identified areas that need attention, including faster resolution of commercial disputes, clear land administration, predictable licensing, and regular review of obsolete legislation. According to him, a business will hesitate to invest where contracts cannot be enforced within a reasonable time.
The Chief of Staff noted that legal reform should not be treated simply as an issue for lawyers and the courts but as part of Ghana's economic policy. He emphasized that efficient laws lower risk, protect rights, and give enterprises room to grow. Dr. Debrah proposed that new regulations should be assessed against their economic cost, implications for individual rights, and their practical enforceability.
Dr. Debrah cited uncertainty over land ownership and emerging regulation of data, digital assets, and artificial intelligence as areas where unclear rules could affect economic activity. He noted that uncertainty in land ownership affects not only investors but also farmers. Unclear rules around emerging sectors could constrain innovation, particularly for young innovators.
The Chief of Staff warned that slow justice, weak contract enforcement, and regulatory uncertainty can discourage investment. He emphasized that businesses require a legal system that provides certainty and resolves disputes within a reasonable time. According to Dr. Debrah, legal reform is an economic policy, and Ghana cannot separate legal reform from economic growth.
Dr. Debrah further stated that efficient laws reduce risk, protect rights, and create room for businesses to grow. He reiterated that a business will hesitate to invest where contracts cannot be enforced within a reasonable time. The Chief of Staff's comments highlight the need for Ghana to prioritize legal reform to support its economic ambitions.
The maiden Annual Bar Conference of the Ghana Law Society provided a platform for Dr. Debrah to share his thoughts on the importance of legal reform in Ghana's economic development. His remarks underscore the critical role that a well-functioning legal system plays in attracting investment and promoting economic growth.
Key points
- Faster commercial dispute resolution is crucial for Ghana's 24-hour economy ambitions.
- Unclear rules on land ownership and emerging sectors can constrain innovation and discourage investment.
- Efficient laws reduce risk, protect rights, and create room for businesses to grow.
