The Board of the Ghana Investment Promotion Centre (GIPC) says it is moving to strengthen the Centre’s culture, operations, and delivery ahead of the new Ghana Investment Promotion Authority Bill coming into force.
Speaking at a media engagement on the sidelines of the GIPC Board and Management retreat, Board Chairman Hon. Akwasi Opong Fosu said the two-day meeting focused on reviewing progress, aligning priorities, and preparing for the institutional changes the new law will bring.
“Strong institutions are not built by chance.
They are built through clear purpose, disciplined leadership, sound governance and a shared commitment to the public interest,” he said.
The Ghana Investment Promotion Authority Bill was passed by Parliament and now awaits presidential assent.
Mr Fosu said the law will provide a stronger framework for investment promotion, facilitation, and regulation, and position GIPC to be more modern and responsive to investors.
He stressed that transformation requires readiness and disciplined implementation, not just legislation.
The Board and Management discussed steps to ensure continuity of service following GIPC’s relocation to the new Ministry of Finance office complex.
Management presented updates on investor services, research, aftercare, regional operations, and monitoring and evaluation. Fosu said the presentations showed GIPC is working to strengthen the full investment cycle, from identifying opportunities and promoting Ghana, to facilitating investment and resolving investor concerns.
The retreat reinforced the need for a Centre-wide reset to improve financial sustainability, deepen collaboration, and make investment promotion more targeted and results-driven.
Fosu said Ghana’s strategic location, access to AfCFTA markets, and private sector potential must be matched with institutional seriousness and consistent delivery. He called on the media to partner with GIPC in telling the country’s investment story with accuracy and balance.
“Our responsibility is clear. We must strengthen GIPC to serve investors better, support national development and advance the transformation agenda of His Excellency the President,” he said.
Speaking at a media engagement after the GIPC Board and Management retreat, CEO Simon Madjie said the Centre is transitioning into an authority under the new Ghana Investment Promotion Authority Bill.
The bill removes the minimum capital requirement for investors and strengthens GIPC’s role in facilitating investment and supporting Ghanaian firms to expand into African markets under AfCFTA.
“Ghana is open for business is not just a slogan,” Madjie said. He cited recent reforms, including a 24-hour premium registration service for investors and a new division dedicated to technology transfer registration, aimed at cutting down the time it takes to set up a business.
Madjie said Ghana’s economy is now the 8th largest in Africa with a GDP of over US$114 billion, supported by stable macroeconomic indicators. He noted that GIPC is driving investment beyond Accra, Kumasi, and Takoradi through a national investment opportunities mapping programme covering all 261 districts.
The Centre has launched regional investment roadshows and opened offices in Ho for the Volta and Oti regions, and in Koforidua for the Eastern Region, which he said is emerging as a business hub.
“Our objective is to open up the country so business people can see the potential of Ghana beyond the traditional areas,” he said.
Madjie added that international trade missions led by President John Dramani Mahama are yielding results, with existing firms expanding and new investors announcing plans to enter Ghana.
He urged the media to continue partnering with GIPC to promote Ghana’s investment story, saying “what you say matters” as countries compete for capital.
The retreat, he said, has re-energized management and the board to reset Ghana’s investment environment and ensure the country remains competitive for both domestic and foreign investors.
Source: Classfmonline.com
