The Ghana Investment Promotion Centre (GIPC) has been transformed into the Ghana Investment Promotion Authority (GIPA) following President John Dramani Mahama’s assent to the Ghana Investment Promotion Authority Act, 2026 (Act 1173).
The new law is expected to strengthen the country’s investment promotion framework by expanding the Authority’s mandate and enhancing its powers to attract, facilitate, promote and retain investments.
It is also aimed at improving Ghana’s competitiveness as an investment destination.
The development was announced in a press release issued by the Authority’s Public Relations Division.
According to the statement, Act 1173 repeals and replaces the Ghana Investment Promotion Centre Act, 2013 (Act 865), introducing key reforms to improve the ease of doing business, strengthen investor protection and align Ghana’s investment regime with regional and international standards, including the African Continental Free Trade Area (AfCFTA).
Among the reforms is the removal of blanket minimum capital requirements for wholly foreign-owned enterprises and joint ventures with Ghanaian partners, while maintaining a reduced threshold for trading enterprises.
The Act also introduces a statutory Investor Grievance Mechanism, establishes a One-Stop Shop for investors, expands expatriate quota thresholds and makes annual renewal of registration mandatory for registered enterprises.
Additionally, the Authority has been designated as Ghana’s national focal institution for implementing the AfCFTA Protocol on Investment.
The Chief Executive Officer of the Ghana Investment Promotion Authority, Mr Simon Madjie, described the enactment as a defining moment in the country’s economic development.
“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 explained that the transition from a Centre to an Authority significantly enhanced Ghana’s capacity to support investors from initial engagement through expansion and reinvestment.
He added that the reforms would strengthen Ghana’s position as a preferred investment destination and a strategic gateway to the African market under the AfCFTA.
The statement urged existing GIPC-registered enterprises to familiarise themselves with the new statutory requirements, particularly the annual registration renewal regime.
Prospective investors were also encouraged to monitor the Authority’s official communication channels for implementation guidelines and further notices.
BY STEPHANIE BIRIKORANG
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