ACCRA, Ghana, 22th July: President John Dramani Mahama has signed into law the new Ghana Investment Promotion Authority (GIPA) Act, replacing the former Ghana Investment Promotion Centre (GIPC) Act in a major step towards transforming Ghana’s investment landscape.
The new legislation is expected to strengthen Ghana’s position as one of Africa’s most attractive investment destinations by introducing a modern legal framework that simplifies investment procedures, reduces bureaucratic bottlenecks, and makes it easier for both local and foreign investors to establish and expand businesses in the country.
A key feature of the Act is its enhanced investor protection, providing stronger legal safeguards to increase investor confidence while ensuring greater certainty and transparency in the business environment.
The law also significantly expands the mandate of the Ghana Investment Promotion Authority, equipping it with broader powers to promote, facilitate, coordinate, and monitor investments more effectively.
This enhanced institutional capacity is expected to improve service delivery and attract increased domestic and foreign direct investment.
Beyond attracting foreign capital, the Act places a strong emphasis on empowering Ghanaian enterprises.
The Authority is tasked with supporting local businesses to grow, compete, and participate meaningfully in the country’s investment ecosystem, ensuring that economic opportunities are shared more broadly.
The enactment of the GIPA Act forms part of the government’s broader economic transformation agenda aimed at accelerating industrialisation, stimulating private sector growth, creating sustainable employment, and positioning Ghana as the premier investment hub in West Africa.
The new law marks a significant milestone in Ghana’s efforts to build a more competitive, investor-friendly economy capable of driving long-term economic growth and national development.
