Ghana is set to scrap minimum capital requirements for foreign investors under a revised Ghana Investment Promotion Centre (GIPC) Act.
The move, announced at the Ghana Presidential Investment Forum in Yokohama, Japan, is designed to make the country more accessible to investors of all sizes.
President John Dramani Mahama explained that the reform will allow even small-scale investors to establish businesses in Ghana without meeting steep equity thresholds. “In the reviewed Ghana Investment Promotion Centre Act, we’re removing those minimum capital investments.
This will enable any investor, however little money you have, 100,000 dollars, 50,000 dollars, to be able to come in and set up a business in Ghana,” he said.
Currently, the law demands higher minimum equity contributions, particularly for wholly foreign-owned firms and trading companies.
The planned amendment, the President noted, will lower entry barriers and open doors for small and medium-scale investors.
The announcement comes as Ghana deepens trade and investment ties with Japan. More than 152 million dollars in Japanese investment has already flowed into the country, with companies like Toyota and Honda assembling vehicles locally for regional markets.
According to Mahama, the GIPC review is part of a broader investment agenda that includes a 24-hour economic policy and a 10 billion dollar infrastructure drive to boost industrialisation, agro-processing, and exports.
Source:Lovinghananews.com
Thanks for reading from Lovin ghana news as a news publishing website from Ghana. You are free to share this story via the various social media platforms and follow us on; Facebook, TikTok, Twitter, WhatsApp Instagram etc.
