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Doing Business In GhanaThe World Bank Doing Business Report 2013 ranks Ghana among the top six (6) in Africa in doing business inAfrica index. Even though Ghana dropped one (1) place (compared to the 2012 rankings) its rating on the index forgetting credit appreciated by 15%. On the political front, Ghana’s 5 th successive successful democratic election washeld in December, 2012 and has obviously helped the country become an attractive investment destination.THE LEGAL MARKETGhana’s legal and regulatory framework continues to see significant changes:Oil & GasThe Petroleum Commission which has the mandate to regulate and manage the utilization of petroleum resource hasstarted work in earnest. Significantly, the Act is intended to promote increased local participation in petroleumactivities. Consequently the Legislative Instrument to give legal backing to the Local Content Policy framework isbefore parliament and expected to become law by the end of 2012. The regulations provide for the establishment ofa Local Content Committee at the Petroleum Commission which will be responsible for ensuring compliance withthe requirements. The submission at a Local Content Plans is now a mandatory part of the Plan of Development foroil and gas production. It would appear that the oversight of Local Content function at the Petroleum Commission(instead of the Ministry of Energy), is designated to give the function a technocratic and not a Political leaning. Themanner in which the Local Content Plan of the Jubilee Partners is handled will serve as a test case.Another significant development in the Oil & Gas sector is the establishment of the Ghana National Gas CompanyLimited (GNCC) incorporated in July, 2011 to add value and commercialize the nation’s gas resources. The GNCCis to build, own and operate infrastructure required to gather, process, transport and market natural gas resources forthe domestic and export market. It is also charged with the responsibility to promote the development ofpetrochemical industries; substantially reduce and/or eliminate flaring of gas; and develop Western Region ofGhana.TourismThe Tourism Act was passed in 2012 to enhance the development of the tourism sector in Ghana. These reformsinclude the establishment of a Tourism Authority mandated to license and register tourism enterprises – touroperators, guest houses, hotels, restaurants. The law also establishes the Tourism Fund to finance industry projectsand programmes.PensionsThe implementation of the Pensions Act will see greater mobilization of financial resources from fund managers.There are mandatory requirements regarding how funds may be invested. This is expected to lead to increasedactivity in the capital market because Trustees and Fund Managers shall be seeking avenues to invest employeecontributions under voluntary and mandatory options.