A recent study by the Africa Centre for Entrepreneurship and Youth Empowerment (ACEYE), titled the Regional Entrepreneurship Freedom Index (REF), has revealed the Savannah Region is the most favorable location for entrepreneurship, making it the ideal spot for individuals looking to start their own businesses.

The Savanah region displaces the Eastern Region which came first in the inaugural edition of the research, which has now entered its second consecutive year.

Besides bordering Cote d'Ivoire, the Savannah Region enjoys a relatively light regulatory environment, making it easier for businesses to start and thrive, according to ACEYE's CEO Emmanuel Acquah. He hinted at this on Class 91.3 FM in a recent interview.

"Government excesses is limited, labour freedom is quite easy, people can move in and out, come and work and go back," he said.

Despite losing as the top region for business investment, the Eastern Region held on to the second position, underscoring its continued attractiveness to investors across the country. 

The REF Index utilises globally-accepted economic metrics to evaluate regional entrepreneurial autonomy, examining the extent of independent and decentralised decision-making.

Ghana has 16 regions.