Ghana has enacted the Ghana Investment Promotion Authority (GIPA) Act, 2026 (Act 1173), fundamentally reshaping its investment landscape. This new legislation, signed into law in July 2026, repeals and replaces the Ghana Investment Promotion Centre Act, 2013 (Act 865), aiming to attract more investment by modernizing regulations and enhancing investor support.
The Act notably abolishes blanket minimum capital requirements for joint ventures and wholly foreign-owned enterprises, which previously mandated foreign investors to commit at least US$200,000 and US$500,000 respectively. This reform opens Ghana's market to a wider range of investors, including small and medium-sized enterprises (SMEs) and technology startups, where strategic expertise often outweighs large capital outlays. Furthermore, the minimum capital requirement for trading enterprises has been reduced from US$1 million to US$500,000, making market entry more accessible.
This legislative overhaul is a key component of President John Dramani Mahama’s Reset Agenda, which prioritizes the private sector for Ghana's economic transformation. The Act aligns Ghana’s investment regime with domestic reforms, the African Continental Free Trade Area (AfCFTA), and international best practices. It introduces provisions for sustainable investment, technology transfer, outward Foreign Direct Investments (FDI), and social inclusion, strengthening investor confidence and Ghana's competitiveness as a regional investment hub.
The Ghana Investment Promotion Centre (GIPC) has transformed into the Ghana Investment Promotion Authority (GIPA) under Act 1173. This change is more than just a name; it signifies a significantly expanded institutional mandate. The Authority will now promote outward investment, facilitate and regulate technology transfer, coordinate policies, and operate a One-Stop Shop for investors. It also administers a statutory Investor Grievance Mechanism (IGM) and acts as Ghana’s national focal institution for the AfCFTA Protocol on Investment.
The new law's implications are far-reaching for Ghana's economy and its position in Africa. By lowering entry barriers and streamlining processes, the government expects to see an increase in both foreign and local investment, particularly from SMEs. The focus on technology transfer and outward FDI also signals a strategic shift towards fostering a more dynamic and integrated economy. Decision-makers will closely monitor the inflow of new investments and the effectiveness of the GIPA's expanded functions in reducing administrative bottlenecks and improving the ease of doing business.
The Act also replaces the rigid mandate to employ at least 20 skilled Ghanaians with a more flexible workforce ratio. This new provision requires at least 75 per cent of skilled employees to be Ghanaians, ensuring local employment benefits from foreign investment. Importantly, the Act preserves activities reserved for Ghanaian citizens and wholly Ghanaian-owned enterprises, safeguarding local businesses. The only changes relate to the removal of references to printing recharge cards and gaming activities from these reserved sectors.
The GIPA's role as a One-Stop Shop is crucial for promoting, facilitating, and regulating investments. This mechanism aims to improve access to information, enhance transparency, and provide investors with a more efficient and seamless experience. The expanded Board of the Authority, with broader representation from key public institutions, is designed to improve decision-making and strengthen institutional coordination, ensuring the GIPA can respond rapidly to evolving investor needs.
For the first time, the Authority has a clear statutory mandate to promote and facilitate outward investment by Ghanaian enterprises. This initiative aims to accelerate the expansion of local businesses beyond Ghana's borders, fostering regional economic integration and growth. This strategic move underscores Ghana's ambition to not only attract investment but also to cultivate its own multinational companies.