President Mahama Signs New GIPA Act To Improve Investment Climate, Attract Businesses

President John Mahama has signed the Ghana Investment Promotion Authority (GIPA) Act into law, introducing a new legal framework aimed at making Ghana a more attractive destination for investment.

The new law repeals the Ghana Investment Promotion Centre (GIPC) Act and replaces it with legislation designed to modernise the country’s investment promotion regime.

According to the government, the Act will simplify procedures for investors by streamlining business registration and approval processes, reducing administrative delays and making it easier to establish and operate businesses in Ghana.

The legislation also strengthens legal protections for both local and foreign investors, with the government saying the new framework is intended to provide greater certainty and confidence for businesses looking to invest in the country.

Under the Act, the Ghana Investment Promotion Authority will have expanded responsibilities to promote, facilitate and monitor investments. 

The government says the Authority’s enhanced mandate is expected to improve institutional efficiency and support efforts to attract more domestic and foreign investment.

The law also places greater emphasis on supporting Ghanaian businesses, with the Authority expected to help local enterprises grow and participate more actively in the country’s investment ecosystem.

The government says the reforms form part of broader efforts to transform Ghana’s investment environment, stimulate economic growth, create jobs and strengthen the country’s position as a leading investment destination in West Africa.