President Mahama Signs New GIPA Act to Attract More Investment to Ghana

President John Dramani Mahama has assented to the new Ghana Investment Promotion Authority Act, replacing the old Ghana Investment Promotion Centre Act.

The new law is designed to make Ghana more competitive and investor-friendly, both in Africa and globally. It seeks to cut down bureaucracy and create a smoother process for people looking to start and run businesses in the country.

*What the new Act does*

1. *Better investor protection*

The Act strengthens the legal framework to give both Ghanaian and foreign investors more confidence and security in doing business here.

2. *Stronger GIPA*

The Ghana Investment Promotion Authority has been given expanded powers to actively promote, facilitate, and monitor investments across the country.

3. *Support for local businesses*

GIPA is also tasked with helping Ghanaian enterprises grow and take a bigger role in the investment space, instead of being left behind.

Government says the reforms are part of a broader push to reposition Ghana as a top investment hub by reducing red tape and improving the ease of doing business.

With the signing, the old GIPC Act has been formally repealed and the new Ghana Investment Promotion Authority now takes over with a broader mandate.