President John Dramani Mahama has reaffirmed Ghana’s commitment to attracting foreign investment, announcing that government is reviewing the Ghana Investment Promotion Centre (GIPC) Act to eliminate minimum capital requirements for foreign investors.
Speaking at the Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD 9), President Mahama said the move is part of government’s broader effort to create a more open and competitive investment environment.
“We’re open for business, and Simon and his team are reviewing the Ghana Investment Promotion Centre Act,” the President stated.
“Previously, foreign investors had to prove they brought in a certain amount of money to qualify. In the reviewed Act, we’re removing those minimal capital investments. This will allow any investor, whether $100,000 or $50,000, to set up and do business in Ghana.”
President Mahama also underscored Ghana’s record of hosting Japanese companies and expressed optimism that further reforms will strengthen investor confidence.
Highlighting Ghana’s recent economic progress, the President pointed to improved ratings by international agencies.
“We’ve been upgraded from junk status to B-minus with a stable outlook. I’m confident that in the next review, we will be upgraded again,” he said.
The review of the GIPC Act is expected to encourage wider participation of small and medium-scale investors, further deepening Ghana’s integration into the global investment landscape.
Source: Myxyzonline.com
