By Francis Ntow
Accra, July 22, GNA – President John Dramani Mahama has assented to legislation replacing the Ghana Investment Promotion Centre with the Ghana Investment Promotion Authority.
The new law introduces wide-ranging reforms to Ghana’s investment regime, including changes to capital requirements for foreign investors and stronger investor protection measures.
The Ghana Investment Promotion Authority (GIPA) said in a statement copied to the Ghana News Agency that the Ghana Investment Promotion Authority Act, 2026 (Act 1173), repealed and replaced the Ghana Investment Promotion Centre Act, 2013 (Act 865).
The Act establishes GIPA as Ghana’s national investment promotion institution and the focal agency for implementing the African Continental Free Trade Area (AfCFTA) Protocol on Investment.
Among the reforms are the removal of blanket minimum capital requirements for wholly foreign-owned enterprises and joint ventures with Ghanaian partners, while retaining a reduced threshold for trading enterprises.
The legislation also introduces a statutory Investor Grievance Mechanism, expands expatriate quota thresholds, provides a statutory mandate for outward investment promotion, establishes a one-stop shop for investors and introduces citizenship-by-investment provisions.
According to the Authority, the reforms are intended to improve the ease of doing business, strengthen investor protection and align Ghana’s investment framework with regional and international standards.
Mr Simon Madjie, Chief Executive Officer of GIPA, described the enactment of the legislation as a significant milestone for the country’s investment promotion framework.
“The Authority we are building today is designed to respond to investors with the speed, transparency, and consistency that global capital demands, while ensuring that the benefits of investment are shared broadly across Ghanaian communities,” he said.
Mr Madjie said the transition from a Centre to an Authority would strengthen the institution’s capacity to support investors throughout the investment cycle.
“We are now better equipped to serve investors from first inquiry through to expansion and reinvestment, and to position Ghana as the preferred gateway to a continental market of over 1.4 billion people under AfCFTA,” he said.
The Authority advised enterprises registered under the former Ghana Investment Promotion Centre to comply with the new statutory requirements, including the annual registration renewal regime and transitional arrangements.
It said additional implementation guidance would be issued through its official communication channels and the Business Regulatory and Reforms portal.
GNA
Edited by Kenneth Sackey
Reporter: Francis Ntow