Ghana is implementing Strategic Reforms and Policies to attract investors

Ghana’s commitment to economic transformation is creating an attractive environment for both local and foreign investors, as the government rolls out strategic reforms and policies to foster sustainable growth.

CEO of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has assured investors that the government’s focus on transparency, accountability, and prudent economic management is setting the foundation for a stable and predictable investment climate.

“President John Dramani Mahama’s message is clear: Ghana is ready to welcome investors—both foreign and local—with open arms. The ongoing reforms and strategic policies provide fertile ground for businesses seeking to tap into one of West Africa’s most promising markets,” Madjie stated.

Key Initiatives to Boost Investment

The government is taking bold steps to attract investments across key sectors by creating a more business-friendly environment and unlocking new opportunities. Among the flagship initiatives is the US$10 billion ‘Big Push’ infrastructure programme, aimed at transforming the country’s roads, railways, and energy systems.

In the energy sector, the Renewable Energy and Green Transition Fund is set to promote solar power and electric vehicle infrastructure. Additionally, Ghana is working toward 100% gas utilization for power generation, presenting lucrative opportunities for clean energy investors. The petroleum and mining sectors are also seeing renewed focus, with government efforts to revitalize upstream oil production and the introduction of the Gold Board to regulate small and medium-scale mining operations.

With a strong emphasis on regional trade under the African Continental Free Trade Area (AfCFTA), the government is positioning Ghana as a gateway for investors looking to access Africa’s expanding markets. Public-private partnerships will play a crucial role in driving investment across industries.

Agriculture, Digital Economy, and Tourism in Focus

Agriculture remains a cornerstone of Ghana’s investment drive, with targeted initiatives such as the Feed Ghana Programme, Grains Development Project, Nkoko Nkitinkiti Project, AgriNext Programme, and the Livestock Development Project aimed at boosting local food production and reducing imports. Plans to establish Farmer Service Centres in every district and encourage investment in fish processing are expected to create jobs and enhance exports.

Similarly, the government is prioritizing the digital economy and tourism sectors. Notable initiatives include the One Million Coders Programme, upgrading the Kofi Annan Centre, the Black Star Experience, Accra Marine Drive project, and the transformation of Osu Castle. The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is also set to receive significant investment to position Ghana as a hub for international business events.

24-Hour Economy to Spur Business Growth

A key component of Ghana’s economic transformation strategy is the introduction of the 24-hour economy, which presents significant benefits for businesses and investors. Participants will enjoy tax incentives to lower operational costs, along with access to cheaper and more reliable electricity through a Time of Use (TOU) tariff system, offering reduced rates during off-peak hours.

Investor Protections and Business Climate

Ghana continues to maintain a stable and predictable political climate, demonstrated by peaceful elections and smooth transitions of power. Additionally, the country’s investment regulations offer adequate protection for investors, while AfCFTA membership provides access to the broader African market.

Despite past economic challenges—including currency depreciation, rising inflation, high import costs, power outages, and inefficient public services—the government is implementing measures to restore business confidence. Efforts are being made to streamline regulations, reduce bureaucracy, and enhance public service efficiency to improve the overall investment climate.

GIPC Assures Investors of Support

The Ghana Investment Promotion Centre (GIPC) remains committed to assisting local and foreign investors in leveraging opportunities in the country.

“Ghana is at an important moment in its economic journey, on a reset borne out of vibrant and visionary leadership, and renewed hope,” Madjie noted. “With a focus on comprehensive economic recovery, infrastructure development, and regulatory reforms, the Government of Ghana is firmly committed to creating a friendly business environment that fosters growth, innovation, and sustainable development.”

Source: TheHighStreetJournal