Prez Mahama Assents To New GIPA Act To Boost Investment And Economic Growth
President John Dramani Mahama has assented to the Ghana Investment Promotion Authority (GIPA) Act, a landmark piece of legislation aimed at transforming Ghana’s investment climate, strengthening investor confidence, and positioning the country as a premier investment destination in Africa.
According to a notice by the Jubilee House, the new law repeals the Ghana Investment Promotion Centre (GIPC) Act and replaces it with a modern legal framework that expands the mandate of the investment promotion agency while introducing reforms intended to make investing in Ghana more efficient and competitive.
The enactment of the GIPA Act is expected to streamline investment procedures by reducing bureaucratic bottlenecks and simplifying the process for both domestic and foreign investors seeking to establish or expand businesses in the country. The reforms are designed to improve the ease of doing business and attract increased capital inflows into key sectors of the economy.
A major feature of the legislation is its strengthened investor protection framework. The Act provides enhanced legal safeguards for investors, offering greater certainty and security for investments while reinforcing confidence in Ghana’s regulatory environment.
Beyond attracting foreign direct investment, the law also places significant emphasis on developing local enterprises. The Ghana Investment Promotion Authority has been empowered to support Ghanaian-owned businesses to expand their operations, improve competitiveness, and participate more effectively in the country’s growing investment ecosystem.
The legislation further broadens the Authority’s responsibilities by strengthening its institutional capacity to promote, facilitate, coordinate, and monitor investments across various sectors of the economy. The expanded mandate is expected to improve investment promotion efforts and ensure more effective oversight of investment activities.
Government believes the reforms introduced under the new GIPA Act will play a critical role in accelerating economic growth, stimulating private sector development, and creating sustainable employment opportunities for Ghanaians.
The new legal framework also aligns with the government’s broader economic transformation agenda, which seeks to position Ghana as the leading investment hub in West Africa by creating a more transparent, predictable, and investor-friendly business environment.
With the President’s assent, the Ghana Investment Promotion Authority is expected to begin implementing the provisions of the Act, ushering in a new era of investment promotion aimed at attracting quality investments, supporting indigenous businesses, and driving inclusive economic development across the country.
Author: Joyce Owusu
