President John Mahama has announced that his government is reviewing the Ghana Investment Promotion Centre (GIPC) Act to eliminate the minimum capital requirement for foreign investors.
Speaking during an engagement with Japanese business owners last week at TICAD-9 in Yokohama, the President said the reform is aimed at making it easier for investors of all sizes to establish and grow businesses in Ghana.
“Whether you’re bringing in US$50,000 or US$100,000, you can set up and grow your business in Ghana,” he assured.
He explained that the move forms part of broader efforts to create a more open and business-friendly environment, while positioning Ghana as a competitive investment destination in Africa.
The reform is expected to encourage increased foreign participation across sectors such as manufacturing, agribusiness, energy, and digital innovation.
Meanwhile, President Mahama has called on African leaders to undertake hard but necessary reforms to make the continent an attractive destination for investments.
He said silencing the guns, ending conflicts, reforming economies to make them stable and predictable, and ensuring accountable, corruption-free governance were crucial to unlocking Africa’s potential.
In his concluding remarks, Mr. Mahama noted that TICAD-9 was taking place at a time of a rapidly changing world order.
He observed that the world’s largest economy, (the United States) which should drive global trade and investment, had become “more insular and transactional” in its relations with the rest of the world.
The President further stressed that Africa must be pragmatic.
‘’Africa is open for business. We wish to partner with any nation in the world on a win-win basis. But let’s not kid ourselves! Trade and investments will not come to Africa just because we wish for it,” he noted.
