Transparency International (TI) Ghana has urged the government to put in place clear, transparent, and enforceable rules to regulate foreign investments, especially in strategic sectors and critical national infrastructure.
The call was made by Mr. Benedict Doh of TI Ghana while presenting findings from a recent research at a stakeholder roundtable held in Adako-Jachie in the Ashanti Region.
He stressed that Ghana needs a well-defined framework that goes beyond attracting capital to safeguarding national interests.
According to Mr. Doh, such a framework should include robust screening systems, thorough due diligence processes, mandatory disclosure requirements, and national security reviews to ensure foreign investments align with Ghana’s long-term development goals.
He warned that weak institutional capacity continues to undermine effective oversight, noting that some state agencies tasked with attracting and managing foreign capital lack the resources and technical strength to perform their roles efficiently.
“This gap creates vulnerabilities in how investment decisions are made and monitored,” he said, adding that stronger institutions are critical to protecting the public interest.
Mr. Doh also called for the reinforcement of democratic institutions and civil society organisations, arguing that their involvement would improve accountability, transparency, and public participation in foreign investment decisions.
Beyond domestic reforms, TI Ghana advocated deeper regional and international cooperation to help Ghana adopt best practices, harmonise investment standards, and promote responsible investment behaviour.
Mr. Doh further encouraged the diversification of financing sources to attract market-oriented capital that is well-governed and responsive to local development needs.
On the regulatory front, Mr. Michael Otchere of the Ghana Investment Promotion Centre (GIPC) said measures were already in place to protect local businesses.
He pointed to restrictions on foreign participation in retail trading and requirements that ensure the employment of Ghanaian workers as part of investment agreements.
Executive Director of TI Ghana, Ms. Mary Awelana Addah, underscored the need for collaboration to address governance challenges within the investment space.
She said improving Ghana’s business climate and boosting investor confidence would require joint action from civil society, policymakers, regulators, the private sector, and development partners.
“Building trust in the system is not the responsibility of one institution alone,” she said, “it requires collective effort and shared accountability.”
