President John Dramani Mahama has assented to the Ghana Investment Promotion Authority Act, 2026 (Act 1173), officially transforming the Ghana Investment Promotion Centre (GIPC) into the Ghana Investment Promotion Authority (GIPA) and ushering in a new phase of Ghana’s investment promotion regime.
The new law, signed on July 15, repeals and replaces the Ghana Investment Promotion Centre Act, 2013 (Act 865), marking what officials describe as the most significant overhaul of Ghana’s investment framework in more than a decade.
According to the Authority, the legislation expands its mandate while strengthening its institutional and enforcement powers, positioning GIPA to play a more proactive role in attracting, facilitating, promoting and retaining investment in Ghana.
The reform also gives the Authority a statutory mandate to support the international expansion of Ghanaian businesses into regional and global markets, a move expected to complement opportunities arising under the African Continental Free Trade Area (AfCFTA).
The Ghana Investment Promotion Authority Act introduces a range of measures aimed at improving the ease of doing business, enhancing investor protection and aligning Ghana’s investment environment with international best practices.
Among the notable reforms is the removal of blanket minimum capital requirements for wholly foreign-owned enterprises and joint ventures involving Ghanaian partners, while maintaining a reduced threshold for trading enterprises.
The legislation also establishes a statutory Investor Grievance Mechanism to provide investors with a structured avenue for resolving concerns.
Other reforms include the promotion of sustainable investment, technology transfer and social inclusion, the introduction of an annual registration renewal requirement for registered enterprises, expanded expatriate quota thresholds, and the creation of a One-Stop-Shop to streamline investor services.
In addition, the Authority becomes Ghana’s designated focal institution for implementing the AfCFTA Protocol on Investment.
GIPA said the enactment of Act 1173 demonstrates Ghana’s commitment to maintaining a stable, transparent and competitive investment climate.
The Authority believes the revised legal framework will provide greater regulatory certainty, stronger investor safeguards and more efficient administrative procedures for international investors, multinational corporations, development partners and fund managers.
Officials argue that the reforms will further reinforce Ghana’s position as a gateway to the African market while attracting quality investments capable of driving economic growth and job creation.
Chief Executive Officer of GIPA, Simon Madjie, described the passage of the law as a landmark development in Ghana’s economic journey.
“The Authority we are building today is designed to respond to investors with the speed, transparency and consistency that global capital demands, while ensuring that the benefits of investment are shared broadly across Ghanaian communities,” he said.
Mr. Madjie added that the transition from a Centre to an Authority significantly strengthens Ghana’s investment promotion capacity.
“We are now better equipped to serve investors from first inquiry through to expansion and reinvestment, and to position Ghana as the preferred gateway to a continental market of over 1.4 billion people under AfCFTA,” he noted.
Following the implementation of Act 1173, existing GIPC-registered enterprises are being encouraged to familiarise themselves with the new statutory requirements, including the annual registration renewal framework and other transitional provisions.
GIPA said it will continue to issue administrative guidelines and implementation notices to support a smooth transition under the new regime.
Investors and stakeholders are also being urged to monitor the Authority’s official communication channels and the Business Regulatory and Reforms (BRR) Portal for updates, operational guidelines and additional information regarding implementation of the Act.
The enactment of the Ghana Investment Promotion Authority Act is expected to play a central role in Ghana’s efforts to strengthen its investment ecosystem, improve competitiveness and leverage opportunities under AfCFTA.
Source: businesspostonline
