‘Ghana is selling credibility’ – GIPA’s Simon Madjie on investment race

Ghana is emphasizing policy credibility and business reforms as it competes with regional investment hotspots, according to Simon Madjie, CEO of the Ghana Investment Promotion Authority (GIPA). In an interview on JoyNews' PM Express Business Edition, Madjie stressed that the nation is moving beyond merely highlighting political stability and natural resources to focus on conditions that foster business growth.

He emphasized that Ghana is "selling reforms" rather than just political stability. When asked about competition from neighboring economies like Benin, Madjie acknowledged the challenge but argued that Ghana's proposition increasingly rests on credibility and reforms, which he said are intended to create prosperity for both investors and Ghanaians.

He cited recent changes to tax and customs laws as part of these reforms. Madjie pointed out that investors need policies that support their businesses over time and that credibility must be present at all levels of leadership, including the presidency, ministries, agencies, and local authorities. He highlighted that political stability remains an aspect of Ghana's offering, but the country is building on this foundation by creating an environment where businesses can thrive and prosper.

To illustrate, Madjie cited new textiles, agribusiness, and component manufacturing policies as evidence of Ghana's direction. He emphasized that these measures aim to strengthen Ghana's reputation as a place where investors can build and expand businesses, making it an attractive destination for those seeking a thriving and prosperous environment for their investments.