Ghana took a significant step towards creating a more business-friendly environment with the development of the Ghana Investment Promotion Authority (GIPA) Bill. The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Simon Madjie, chaired a stakeholder meeting to discuss the proposed bill which aims at modernizing the country’s investment landscape.

Key Stakeholders Unite

Representatives from the Ministry of Finance, Ministry of Trade and Industry, Ministry of Food and Agriculture, and the Office of the Attorney-General and Ministry of Justice attended the meeting. The discussions focused on designing a robust structure of investment incentives tailored to various sectors and investor categories.

Alignment with AfCFTA Investment Protocol

A key theme of the meeting was the need to establish a balanced and competitive investment framework that would  benefit both the Ghanaian economy and the investor community. Mr. Madjie emphasized the importance of aligning the proposed bill with the African Continental Free Trade Area (AfCFTA) Investment Protocol, which aims at harmonizing investment regulations across the continent.

Attracting Sustainable Investment

By aligning with the AfCFTA Investment Protocol, Ghana aims at attracting sustainable foreign direct investment and positioning itself as a preferred investment destination in Africa. The GIPA Bill is expected to be a key pillar in the government’s broader strategy to enhance the ease of doing business in line with international and continental benchmarks.

Next Steps

The draft bill remained under review and was going to undergo further stakeholder consultations before submission to Parliament for consideration. The development demonstrated Ghana’s commitment to creating a more attractive investment environment and promoting economic growth.

Story By: Kwame Lawerh