{"id":114287,"date":"2026-02-06T03:53:00","date_gmt":"2026-02-06T03:53:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=114287"},"modified":"2026-02-06T03:53:00","modified_gmt":"2026-02-06T03:53:00","slug":"strong-institutions-strong-economy-gncci-calls-for-commercial-justice-reform","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=114287","title":{"rendered":"Strong institutions, strong economy \u2013 GNCCI calls for commercial justice reform"},"content":{"rendered":"
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The Ghana National Chamber of Commerce and Industry (GNCCI) CEO, Mark Badu-Aboagye, has stressed that strong institutions are central to building a resilient economy and creating the conditions for businesses to thrive.<\/p>\n

Speaking on Joy News\u2019 PM Express Business Edition on Thursday, he argued that economic discussions in Ghana often focus on policies and macro indicators while ignoring the strength of the institutions that make the system work.<\/p>\n

\u201cInstitutions are very key,\u201d he said, adding that \u201cmost times when we are speaking, we leave out the institutions.\u201d<\/p>\n

According to him, for an economy to be strong, \u201cthe institutions must be strong,\u201d warning that \u201cweaker institutions weaken the economy.\u201d<\/p>\n

He said high-quality institutions are needed across the board, including for export and import, banking, and the broader business environment.<\/p>\n

\u201cEven for your export, for your import, for your banking sector, for everything you need, the institution,\u201d he said.<\/p>\n

A major concern raised by the GNCCI CEO was the courts\u2019 role in commercial disputes, particularly in cases involving loans and contract enforcement.<\/p>\n

He argued that the slow pace of court processes can destroy the value of commercial transactions, leaving businesses worse off even after pursuing legal redress.<\/p>\n

\u201cYou need courts to ensure that if it\u2019s a commercial loan, it\u2019s a commercial court,\u201d he said.<\/p>\n

He explained that in many cases, \u201cby the time you are done with the court process, you would have lost the value of the money,\u201d making the entire process unproductive.<\/p>\n

\u201cAnd it will not be, not make any sense,\u201d he added.<\/p>\n

Mr Badu-Aboagye said the solution must include a deliberate effort by stakeholders to streamline dispute resolution and establish timelines that reflect business realities.<\/p>\n

\u201cSo if you all come together and say that if it\u2019s a commercial loan, we are doing it for this period,\u201d he said, suggesting that time-bound commercial justice could improve confidence in the system.<\/p>\n

He also pointed to arbitration as an alternative mechanism that can ease the pressure on the courts and help businesses resolve disputes faster and at lower cost.<\/p>\n

\u201cFor a Chamber, for instance, with some of our external partners, we move to arbitration,\u201d he said.<\/p>\n

According to him, the process allows disputes to be settled quickly without the financial strain and long delays often associated with court litigation.<\/p>\n

\u201cSo we\u2019re able to resolve some of these things so quickly that you don\u2019t have to go and pay, you don\u2019t have to struggle,\u201d he explained.<\/p>\n

He revealed that the GNCCI has an arbitration centre that supports members dealing with commercial disputes.<\/p>\n

\u201cThrough arbitration, we\u2019re able to resolve some of [them],\u201d he said.<\/p>\n

He added that the Chamber\u2019s arbitration structure serves as a first point of resolution for disputes involving Chamber members.<\/p>\n

\u201cSo we have an arbitration centre within the Chamber where you have any commercial dispute with any chamber member,\u201d he noted.<\/p>\n

He explained that where arbitration fails, the next step should be the commercial court system, which he believes must be structured to deliver outcomes within reasonable timeframes.<\/p>\n

\u201cThe arbitration system. If it doesn\u2019t work, that\u2019s where you go to the commercial,\u201d he said, adding that the aim is to ensure disputes are resolved efficiently.<\/p>\n

Mr Badu-Aboagye urged that Ghana\u2019s economic reform conversation must place institutions at the centre, not as an afterthought.<\/p>\n

\u201cSo let\u2019s look at some of these institutions and how we can use them to support our economy,\u201d he said.<\/p>\n<\/div>\n

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The Ghana National Chamber of Commerce and Industry (GNCCI) CEO, Mark Badu-Aboagye, has stressed that strong institutions are central to building a resilient economy and creating the conditions for businesses to thrive.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16477,319,1917,2092,1883,10,9],"tags":[],"class_list":["post-114287","post","type-post","status-publish","format-standard","hentry","category-commercial-justice","category-economy","category-hp-news-4","category-mark-badu-aboagye","category-national","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/114287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=114287"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/114287\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=114287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=114287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=114287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}