GIPC awaits assent to new investment authority bill
The Ghana Investment Promotion Centre (GIPC) is awaiting presidential assent to the Ghana Investment Promotion Authority Bill, which will help strengthen the country’s investment promotion and regulatory framework.
The bill, which was passed by Parliament on March 26, would transform the centre into a more modern, responsive and effective institution capable of supporting Ghana’s development priorities.
The proposed law would provide a stronger framework for investment promotion, facilitation and regulation to enhance investor confidence and improve service delivery.
At a media briefing at Peduasi in the Eastern Region last Tuesday, the Board Chairman of the GIPC, Akwasi Oppong-Fosu, stated that the transformation of the institution would depend on discipline, internal alignment and effective implementation of reforms after the bill receives presidential assent.
“When assented to, the new law will provide a stronger framework for investment promotion, facilitation and regulation and support the transformation of the centre into a more modern, responsive and effective institution,” he said.
Retreat
The media briefing was organised after a two-day board and management retreat of the Ghana Investment Promotion Centre.
The retreat brought together the board and management of the GIPC to review the centre’s 2026 operational priorities and status, discuss key institutional reforms and align on measures to strengthen the country’s investment promotion and investor support agenda.
The media briefing was addressed by the Board Chairman of the GIPC, Akwasi Oppong-Fosu and the Chief Executive Officer of the GIPC, Simon Madjie, who shared key highlights from the retreat and provided updates on the centre’s strategic direction for 2026.
Smooth implementation
Mr Oppong-Fosu stated that the board and management had already begun discussions on the institutional, operational and communication measures required to ensure a smooth implementation of the new law once it received presidential assent.
He explained that the relocation of the GIPC operations to the new Ministry of Finance office complex would not affect service delivery, as the centre remained committed to maintaining responsiveness and continuity for investors and stakeholders.
He said the retreat highlighted the need for a centre-wide reset to improve collaboration, financial sustainability and targeted investment promotion across the country.
“We must strengthen the GIPC to serve investors better, support national development and play our part in advancing the transformation agenda of the President aimed at building a stronger, more competitive and prosperous Ghana,” he added.
For his part, the CEO explained that the proposed authority law sought to eliminate the minimum capital requirement, which had long posed a challenge for many investors entering the Ghanaian market.
He stated that the reforms would also improve the GIPC's facilitation role and support Ghanaian enterprises seeking to expand into regional markets within the Economic Community of West African States and the African Continental Free Trade Area.
He stressed that the centre had introduced several reforms, including a 24-hour premium registration service to reduce the time required for business registration and improve investor experience.
Roadshows
Mr Madjie said the centre had also embarked on regional investment roadshows in seven regions to promote investment opportunities and attract both domestic and foreign investors into emerging business hubs across the country.
“Ghana is open for business and the centre is being transformed to attend to the needs of both local and international investors, while positioning the country as the most favourable place to do business in West Africa,” he stated.
He added that the centre had intensified regional investment promotion activities through investment roadshows and the establishment of regional offices to help identify and market investment opportunities nationwide.