Mahama Assents to New Investment Law, Transforms GIPC into Ghana Investment Promotion Authority

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).

The new legislation, signed into law on July 15, 2026, marks a major overhaul of Ghana’s investment promotion framework and is expected to strengthen the country’s ability to attract, facilitate and retain both domestic and foreign investments.

Act 1173 repeals and replaces the Ghana Investment Promotion Centre Act, 2013 (Act 865), representing the most significant reform of Ghana’s investment regime in more than a decade. The new law expands the Authority’s mandate, enhances its enforcement powers and aligns Ghana’s investment framework with evolving global standards and the objectives of the African Continental Free Trade Area (AfCFTA).

According to the government, the reforms are aimed at improving the ease of doing business, strengthening investor protection and positioning Ghana as a more competitive destination for investment.

A key feature of the legislation is the designation of GIPA as Ghana’s national focal institution for implementing the AfCFTA Protocol on Investment, further reinforcing the country’s role in continental economic integration.

The Act introduces several reforms, including the establishment of a national investment promotion authority, the modernisation of investment promotion processes and the removal of blanket minimum capital requirements for wholly foreign-owned enterprises and joint ventures involving Ghanaian partners. However, a reduced capital threshold will remain in place for trading enterprises.

Other provisions include the introduction of a statutory Investor Grievance Mechanism to address investor concerns, measures to promote sustainable investment and technology transfer, and a requirement for registered enterprises to renew their registration annually.

The legislation also expands expatriate quota thresholds, establishes a legal framework for outward investment promotion, creates a One-Stop-Shop for investors and introduces provisions relating to citizenship-by-investment. Additionally, it aligns Ghana’s investment regime with international best practices and the AfCFTA Protocol on Investment.

Government officials say the new law sends a strong signal to the international investment community about Ghana’s commitment to maintaining a transparent, stable and investor-friendly business environment.

The framework is expected to provide greater regulatory certainty, stronger investor protection and more efficient administrative procedures for multinational corporations, development partners, fund managers and other investors seeking opportunities in Ghana.

Commenting on the significance of the new law, the Chief Executive Officer of the Ghana Investment Promotion Authority, Mr. Simon Madjie, described the development as a defining moment in Ghana’s economic transformation.

“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 noted that the transition from a Centre to an Authority significantly enhances Ghana’s investment promotion capacity and strengthens the institution’s ability to support investors throughout their investment journey.

“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 added.

Following the enactment of the law, existing GIPC-registered enterprises are being encouraged to familiarise themselves with the new statutory requirements, including the annual registration renewal regime and other transitional provisions.

The Authority said it will continue to issue implementation guidelines and administrative notices to support a smooth transition to the new legal framework.

Prospective investors and stakeholders have also been advised to follow GIPA’s official communication channels and the Business Regulatory and Reforms (BRR) Portal for updates, operational guidelines and additional information regarding the implementation of Act 1173.

The enactment of the Ghana Investment Promotion Authority Act is widely expected to strengthen Ghana’s attractiveness as an investment destination while supporting sustainable economic growth, job creation and increased participation in Africa’s emerging single market under the AfCFTA.