New GIPC law removes capital requirement for most foreign investors - CEO

Foreign investors looking to establish businesses in Ghana will no longer be required to meet minimum capital thresholds in most sectors under the newly enacted Ghana Investment Promotion Centre (GIPC) Act.

The legislation, which has received presidential assent, is expected to make Ghana a more competitive destination for foreign direct investment by removing one of the country’s longstanding entry barriers for investors.

Chief Executive Officer of the Ghana Investment Promotion Centre, Simon Madjie, said the amendment responds to a key concern repeatedly raised by investors seeking to do business in Ghana.

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The only sector excluded from the new arrangement is trading. Under the revised law, foreign investors engaging in trading activities must provide $500,000 in cash, replacing the previous system that permitted the capital requirement to be satisfied through imported goods.

“For investors who’ve been complaining about the minimum capital requirement, that has been eliminated, you know, by the passage of the new law. Except for trading, those in a trading enterprise, they must now bring in a cash amount of $500,000. No longer have goods, but a cash amount of $500,000,” he said.

He explained that the removal of the minimum capital requirement is intended to ease market entry, while the revised trading provision ensures a direct cash injection into the economy.

The legislation also introduces a National Investment Registry, which will serve as a comprehensive database to monitor and track investments across the country.

In addition, the Act seeks to support the international expansion of Ghanaian businesses by providing a framework to encourage local companies that have grown domestically to establish operations abroad.

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Madjie said the broader objective is to develop globally competitive Ghanaian enterprises capable of replicating the success of international brands.

Another key feature of the law is the creation of a legal framework for an investment by citizenship programme, with implementation guidelines to be developed in collaboration with the Ministry of the Interior.

DR/SA