President Mahama announces removal of minimum capital requirement for foreign investors
President John Dramani Mahama has announced plans to remove the minimum capital requirement for foreign investors as part of upcoming reforms to the Ghana Investment Promotion Centre (GIPC) Act.
The decision was disclosed in Tokyo at the Presidential Investment Forum, held on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX).
The reform, according to the president, is intended to strengthen Ghana’s appeal as an investment destination, lower entry barriers, and create more opportunities for private sector-led growth and job creation.
“We are open for business and working to review the Ghana Investment Promotion Centre Act. Some barriers were put on foreign investment. You had to prove that you had brought in a certain amount of money to be classified as a foreign investor.
“In the reviewed Ghana Investment Promotion Centre Act, we are removing those minimal 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,” President Mahama stated.
The president also used the platform to highlight improving macroeconomic indicators as evidence of Ghana’s economic turnaround.
“We are re-establishing macro stability and the growth momentum of the economy. Inflation rose to a high of almost 23% in 2024 and is currently down to 13.7%, and we expect that by the end of the year to hit single digit. Our cedi has stabilised.
“We have been upgraded from junk status to B minus with a stable outlook, and I am certain that in the next review, we are going to be upgraded again,” he added.
