Ghana is preparing to abolish the minimum capital requirement for foreign investors as part of sweeping reforms to the Ghana Investment Promotion Centre (GIPC) Act, a move designed to sharpen the country’s competitiveness and attract more global capital.
The reform, announced by President John Dramani Mahama at the Presidential Investment (TICAD Yokohama) Forum in Japan, signals a decisive shift in Ghana’s investment policy towards openness and inclusivity.
“We are open for business and working to review the Ghana Investment Promotion Center Act,” Mahama told a gathering of Japanese business leaders.
“Some barriers were put to foreign investment. You had to prove that you had brought in a certain amount of money to be classified as a foreign investor. In the reviewed Act, we are removing those minimal capital investments. This will enable any investor, however little money you have, to be able to come in and set up a business in Ghana.”He added.
The announcement comes at a time when policymakers are doubling down on efforts to spur private sector growth and job creation. Analysts say the removal of entry barriers could unlock a wider pool of investors from startups to medium-sized enterprises keen to establish a foothold in Ghana’s economy.
Mahama underscored the country’s improving macroeconomic fundamentals as an added incentive. “We are re-establishing macro stability and the growth momentum of the economy. Inflation rose to a high of almost 23% in 2024 and is currently down to 13.7%, and we expect that by the end of the year to hit single digit. Our cedi has stabilized. We have been upgraded from junk status to B minus with a stable outlook, and I am certain that in the next review, we are going to be upgraded again,” he noted.
He further pointed to the performance of the cedi described as the strongest among African currencies this year and the growing presence of Japanese firms in Ghana as proof of investor confidence.
Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, positioned Ghana as a strategic springboard for Japanese investors eyeing Africa.
“Ghana is the gateway to West Africa, let us therefore move forward with determination, turning today’s dialogue into joint ventures, industrial clusters and supply chains that carry the stamp of both Ghanaian resilience and Japanese excellence.” she said.
If passed, the revised GIPC Act will not only dismantle financial thresholds for foreign entrants but could also reposition Ghana as one of Africa’s most accessible and attractive investment destinations under the African Continental Free Trade Area (AfCFTA).
