The Ghana Investment Promotion Centre (GIPC) has assured investors of a streamlined business permit process, with Chief Executive Officer Simon Madjie announcing that permits will be processed within 24 hours in line with government policy.
This move is set to enhance Ghana’s attractiveness as an investment destination by reducing bureaucratic delays and fostering a more business-friendly environment.
Ghana has made previous attempts to streamline business permit processes to attract investment, but full implementation of a 24-hour turnaround has been challenging.
Over the years, the GIPC has introduced various reforms to ease business registration and investment processes. In 2019, Ghana launched the Ghana Business Regulatory Reforms Programme, which aimed to reduce bureaucratic bottlenecks, including expediting business permit approvals.
Ghana has made efforts to improve its ranking in the World Bank’s Ease of Doing Business Index by digitizing some business registration processes. The Registrar General’s Department (RGD) and Ghana Revenue Authority (GRA) have implemented online platforms to speed up company registration and tax processing.
In 2017, the government promised a 24-hour port clearance system to reduce delays in import and export processes, though implementation faced hurdles due to infrastructure and bureaucratic inefficiencies. A similar one-day business registration initiative was introduced at RGD, but not all processes could be completed within that timeframe.
Challenges and Roadblocks
Despite these initiatives, factors such as inter-agency coordination, verification requirements, and bureaucratic inertia have slowed down efforts to achieve a truly 24-hour permit issuance system. Investors often still experience delays due to land registration, environmental permits, and other regulatory approvals.
The latest announcement is likely to drive foreign direct investment, stimulate economic growth, and create jobs as companies can establish operations more quickly.
Madjie , speaking at the launch of Zonda Ghana Limited’s eighth automobile showroom, stressed the importance of a favourable investment climate and praised the contributions of foreign investors, particularly Chinese companies, to Ghana’s economic growth.
“As we unveil Zonda’s new vehicles in the Ghanaian market, it is an exciting time for all of us. Investments create sustainable jobs and pay taxes to help our economy grow,” he stated.
Zonda Ghana Limited, a Chinese automobile assembly company, has further expanded its footprint in Ghana with the opening of the new showroom and the introduction of new car models. The company, which has been operating in Ghana for 18 years, has established two assembly plants—one for heavy-duty trucks and the other for light vehicles—along with eight showrooms nationwide.
Managing Director Yang Yang attributed Zonda’s success to Ghana’s conducive business environment. “I came to Ghana in 2007 penniless. It is Ghana that made me who I am today, and I am so blessed with more than 500 staffers in Ghana,” he said. “By doing business here and by creating jobs, we will make Ghana a better place. Ghana has made me shine, and I also want to make Ghana shine.”
Yang expressed support for the government’s proposed 24-hour economy policy, noting that it would enhance the growth of the automobile sector.
Meanwhile, Rami Sefari, an Algerian investor in Ghana, commended Chinese automobile brands for their durability, modern designs, and affordability. “Chinese cars have reached international levels. I used one car from Zonda during a holiday trip in Tunisia, and the car was amazing,” he remarked.
