Public consultation on the new GIPC (amendment) bill 2023 

27-09-2024

 Public consultation on the new GIPC (amendment) bill 2023 

Dear GNBCC Member, 

Through the Ghana Business Regulatory reforms portal we - as stakeholders of the business community – can respond / react on the new GIPC Act. We as GNBCC are very much in favour of this new act because the investment thresholds for foreign investment when investing through a joint venture with a Ghanaian entity will go to ZERO (now at least US$ 200,000) and the same applies when investing as a wholly foreign entity in Ghana (now at least US$ 500,000 minimum foreign equity).

This will result in an increase of attracting foreign investments by Ghanaian companies which are in need of foreign equity much lower as US$ 200,000; it will also be easier for foreign investors to cough up these lower amounts. The part of the new GIPC act which is missing is that in our view the Ghana Investment Promotion Centre should be the highest authority for foreign investors hence the GIPC overrules any other entity in Ghana with his or her own set of rules. At present organisations as the Minerals Commission, Energy Commission,  National Communication Authority etc. have their own set of rules for foreign investors in most times overruling GIPC. This should change.

We invite you to kindly bring forth your much needed comments, inputs and/or recommendations in view of helping shape this draft Legislative Instrument.

Click here to visit the Ghana Business Regulatory Reforms Portal website for your comments on the new GIPC act.

 

 

GNBCC | News