President John Dramani Mahama has signed the new Ghana Investment Promotion Authority Act into law, marking a major reform of the country’s investment regulatory framework.

The new legislation repeals the Ghana Investment Promotion Centre Act, 2013 (Act 865), and transforms the Ghana Investment Promotion Centre into the Ghana Investment Promotion Authority.

The law is expected to strengthen Ghana’s position as a competitive investment destination by simplifying regulatory procedures, reducing bureaucratic barriers and making it easier for businesses to establish and operate in the country.

It also introduces stronger legal protections for both local and foreign investors, providing greater confidence, predictability and security within Ghana’s investment environment.

Under the new law, the Authority has been given an expanded mandate to promote, facilitate, coordinate, regulate and monitor investments more effectively.

The reforms are also expected to improve collaboration among state institutions responsible for business registration, licensing and investment-related services.

Beyond attracting foreign direct investment, the Authority is mandated to support Ghanaian-owned businesses to expand their operations and participate more meaningfully in the national and international investment ecosystem.

The government believes the legislation will help create a more transparent and investor-friendly business environment while encouraging partnerships between foreign investors and local enterprises.

The enactment of the law forms part of broader efforts by the Mahama administration to stimulate economic growth, create employment opportunities and position Ghana as a leading investment hub in West Africa.

Stakeholders in the business community are expected to closely monitor the implementation of the Act and the measures that will be introduced by the Authority to translate its provisions into improved investment outcomes.

Report By: Robicon Mornahson