President Mahama signs new GIPA Act into law to streamline investment, support business growth
President John Dramani Mahama has signed the Ghana Investment Promotion Authority (GIPA) Act into law.
This ushers in a new legal framework aimed at attracting increased domestic and foreign investment, strengthening investor confidence and positioning Ghana as a preferred investment destination in Africa.
The new legislation repeals the Ghana Investment Promotion Centre (GIPC) Act and establishes the Ghana Investment Promotion Authority with an expanded mandate to promote, facilitate and monitor investments while creating a more efficient and investor-friendly business environment.
The President said the enactment of the law formed part of Government’s broader economic transformation agenda to accelerate growth, create jobs and make Ghana the leading investment hub in West Africa.
The new Act is expected to simplify investment procedures by reducing bureaucratic bottlenecks and streamlining the processes for establishing and operating businesses in Ghana.
Government believes the reforms will improve the ease of doing business, reduce administrative delays and create a more predictable regulatory environment capable of attracting high-quality investments into key sectors of the economy.
The legislation also strengthens the legal framework for investor protection by providing greater certainty and security for both domestic and foreign investors.
With enhanced safeguards and clearer regulatory provisions, Government expects the law to improve investor confidence and encourage long-term investment commitments that support industrialisation, innovation and economic expansion.
Under the new legal regime, the Ghana Investment Promotion Authority has been given broader institutional responsibilities to promote investment opportunities, facilitate business establishment, coordinate investment promotion activities and monitor investment projects more effectively.
The expanded mandate is expected to improve the Authority’s capacity to respond to the needs of investors while ensuring that investment contributes meaningfully to national development objectives.
The Act also places renewed emphasis on the development of Ghanaian enterprises by mandating the Authority to support local businesses to grow, become more competitive and participate actively in the country’s investment ecosystem.
Government expects the strengthened support for local enterprises to enable more Ghanaian businesses to partner international investors, access new markets and contribute to value addition, export growth and industrial development.
The new investment law forms part of ongoing efforts to build a resilient economy capable of attracting productive investments, expanding manufacturing, increasing exports and creating sustainable employment opportunities for Ghanaians.
By modernising the country’s investment promotion framework, Government aims to enhance Ghana’s competitiveness, improve its standing as an investment destination and attract capital that supports inclusive and sustainable economic growth.
The enactment of the Ghana Investment Promotion Authority Act marks a major milestone in Government’s drive to create a transparent, efficient and competitive investment environment that supports enterprise development and strengthens Ghana’s position as a gateway for investment into West Africa.
Richard Aniagyei, ISD
