Parliamentary committee commends GIPA’s investment drive, backs key reforms
During his presentation, Mr Madjie traced the evolution of Ghana’s investment promotion architecture, from the Capital Investment Board established in the early 1960s, through the Ghana Investment Code under PNDC Law 116, to the Ghana Investment Promotion Centre (GIPC) Act of 1994 (Act 865), and subsequently Act 1173 of 2023, which established the GIPA.
The Parliamentary Select Committee on Trade, Industry and Tourism commended the Ghana Investment Promotion Authority (GIPA) for its investment drive and endorsed key reforms, following a visit to the organization's headquarters in Accra. GIPA CEO Simon Madjie provided an overview of the Authority's mandate, legal reforms, and operational performance, emphasizing the repositioning of GIPA as both a promotional and regulatory institution under the 2023 Act 1173.
The reforms, which include the removal of blanket minimum capital requirements and the introduction of targeted local content regulations, aim to streamline the investment process and position Ghana as a preferred destination for investors.
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