President John Dramani Mahama has signed into law the new Ghana Investment Promotion Authority (GIPA) Act, repealing the former Ghana Investment Promotion Centre Act.

This legislation is set to reposition Ghana as a top investment destination in Africa and beyond with streamlined processes that cut red tape and make it easier for investors to establish and operate businesses in Ghana.

The new Act guarantees enhanced investor protection by strengthening the legal framework to give both local and foreign investors greater confidence and security, while also improving institutional capacity by empowering the Authority with expanded mandates to promote, facilitate, and monitor investments more effectively.

The Ghana Investment Promotion Authority is also mandated to boost local enterprise by supporting Ghanaian businesses to scale up and participate meaningfully in the investment ecosystem.