The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has disclosed that government is taking steps to eliminate the minimum capital requirement for investors as part of broader reforms aimed at improving Ghana’s investment environment.
Speaking during an engagement with the media after a meeting with the GIPC Board, Mr. Madjie said the proposed Ghana Investment Promotion Authority Bill goes beyond transforming the Centre into an authority and seeks to make Ghana a more attractive destination for both local and foreign investors.
According to him, the removal of the minimum capital requirement has been a major concern for many investors.
“So one is the Ghana Investment Promotion Authority Bill, which is not just merely a law to convert the centre into an authority, but one that has the objective to eliminate the minimum capital requirement that has been an issue for many of the investors,” he stated.
Mr. Madjie explained that the reforms form part of government’s broader agenda to reset Ghana’s investment environment and position the country as one of the most favourable places to do business within the sub-region and across Africa.
“The objective of the Government of Ghana is to grow the Ghanaian economy through private sector participation,” he said, adding that both domestic and foreign businesses remain central to achieving that vision.
He noted that the new investment reforms will also strengthen GIPC’s role in facilitating business operations and supporting Ghanaian enterprises with the capacity to expand into other African markets under the African Continental Free Trade Area (AfCFTA).
Mr. Madjie further disclosed that the Centre has already introduced several reforms to improve investor experience, including a 24-hour premium business registration service.
“One such reform is to cut down the number of days it takes to register new businesses, and many of you may have heard of the 24-hour premium service at GIPC, where within 24 hours you have your registration,” he noted.
The GIPC CEO also revealed that the Centre is currently undertaking investment opportunity mapping across all 261 districts in the country to identify and promote viable investment opportunities.
He added that regional investment roadshows are being organised across the 16 regions to encourage investors to explore opportunities beyond Accra, Kumasi, Takoradi and Tamale.
Mr. Madjie stressed that government remains committed to promoting Ghana as a leading investment destination in Africa.
“So being open for business is not just a slogan or a symbol,” he said.
