GIPC now Ghana Investment Promotion Authority under new Act

The Ghana Investment Promotion Centre (GIPC) has officially been renamed the Ghana Investment Promotion Authority (GIPA) following the passage and presidential assent of the new Ghana Investment Promotion Authority Act.

The change comes after President John Dramani Mahama, on Wednesday, July 15, 2026, assented to the Ghana Investment Promotion Authority Act, 2026 (Act 1173), officially transforming the Ghana Investment Promotion Centre into the Ghana Investment Promotion Authority.

The enactment of Act 1173 marks a major milestone in Ghana's investment promotion framework, expanding the Authority's mandate while strengthening its institutional capacity and enforcement powers.

In a statement sighted by GhanaWeb Business, GIPA Chief Executive Officer Simon Madjie said the transformation reflects the institution's expanded mandate, which now goes beyond investment promotion to include the regulation and oversight of investment activities in the country.

"The Authority we are building today is designed to respond to investors with the speed, transparency, and consistency that global capital demands, while ensuring that the benefits of investment are shared broadly across Ghanaian communities," he said.

The new legislation also introduces major reforms aimed at strengthening Ghana's investment ecosystem.

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Among the key reforms is the removal of the minimum capital requirement for foreign investors seeking to establish businesses in most sectors of the economy.

However, foreign investors in the trading sector will still be required to invest a minimum of US$500,000 in cash, replacing the previous arrangement that allowed the requirement to be met through imported goods.

The Act also establishes a National Investment Registry to enhance the monitoring, tracking, and management of investments across the country.

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DR/SA