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 move aimed at strengthening Ghana’s investment climate and attracting more domestic and foreign investment.
The new legislation is expected to reposition Ghana as one of Africa’s leading investment destinations by introducing reforms that simplify investment procedures, reduce bureaucratic bottlenecks and make it easier for businesses to establish and operate in the country.
A key feature of the Act is the enhancement of investor protection through a stronger legal framework that provides greater certainty, transparency and security for both local and foreign investors.
The law also strengthens the institutional capacity of the Ghana Investment Promotion Authority by expanding its mandate to more effectively promote, facilitate and monitor investments across key sectors of the economy.
In addition, the Authority has been tasked with supporting the growth of local enterprises by helping Ghanaian businesses expand their operations, improve competitiveness and participate more meaningfully in the country’s investment ecosystem.
The enactment of the GIPA Act forms part of the government’s broader strategy to improve the ease of doing business, attract sustainable investment, stimulate private sector growth and create employment opportunities as Ghana pursues long-term economic transformation.
Source: citinews
