By: Robert
Kwaku Annor
President John Dramani
Mahama has signed the Ghana Investment Promotion Authority (GIPA) Act into law,
replacing the Ghana Investment Promotion Centre (GIPC) Act as part of efforts
to strengthen Ghana’s investment promotion framework and improve the country’s
business environment.
The new legislation expands
the mandate of the Ghana Investment Promotion Authority to promote, facilitate
and monitor investments while introducing measures aimed at streamlining
investment processes and strengthening investor protection.
The Act establishes a new
institutional framework designed to support both domestic and foreign
investors, improve coordination within the investment ecosystem and encourage
greater participation of local enterprises in Ghana’s economic development.
The reforms are expected to
enhance Ghana’s competitiveness as an investment destination by creating a more
efficient and transparent system for investors, while supporting job creation,
sustainable investment and economic growth.
The establishment of GIPA
forms part of government efforts to position Ghana as a preferred investment
hub and strengthen its role as a gateway to opportunities across the African
continent.
Management of the Ghana
Investment Promotion Authority, led by Chief Executive Officer Simon Madjie,
has been tasked with advancing the implementation of the new framework and
supporting the country’s investment growth agenda.
The signing of the GIPA Act
marks a significant milestone in Ghana’s efforts to modernise investment
governance and create a more investor-friendly environment.
