GIPA scraps minimum capital requirement for foreign-owned businesses

The Ghana Investment Promotion Authority (GIPA) has unveiled significant updates to the GIPA Act, 2026 (Act 1173), eliminating minimum capital prerequisites for foreign-owned companies and joint ventures. Vera Adjei, Principal Investment Promotion Officer at GIPA, disclosed that this change applies universally, with the exception of trading enterprises which must maintain a minimum equity of US$500,000 in cash and a workforce with 75% of skilled Ghanaian employees.

Speaking at the International Chamber of Commerce Ghana CEO Breakfast Meeting, Adjei highlighted the introduction of a One Stop Shop and an Investor Grievance Mechanism to streamline the investment process and provide solutions for investor concerns. The act retains the activities reserved solely for Ghanaians, known as the negative list.

Additionally, GIPA will introduce citizenship by investment, a provision to be implemented jointly with the Ministry of the Interior. Adjei cautioned that leasing or subletting shops to foreigners remains illegal and carries a penalty of 2,000 to 4,000 penalty units, with each unit equivalent to GH¢12. GIPA is granted the authority to impose administrative penalties for violations, with stricter measures for enterprises repeatedly breaching the law.

GIPA plans to consult stakeholders to clarify the key amendments under the GIPA Act, 2026 (Act 1173).