Ghana Investment Promotion Authority Establishes Network to Enhance Investor Support

The Ghana Investment Promotion Authority (GIPA) is taking proactive steps to bolster investor confidence and facilitate business operations by establishing a dedicated Focal Persons Network. This network will operate across various Ministries, Departments, and Agencies (MDAs), creating a more unified and responsive system for addressing investor needs.

According to GIPA's Deputy Chief Executive Officer, Razak Alhassan, the initiative is particularly vital as Ghana works to rebuild its economic standing. He emphasized that while attracting new investments is important, retaining and supporting existing businesses that contribute to job creation and economic commitment is equally critical. The network aims to ensure that investors' daily interactions with public institutions, covering areas such as taxes, customs, immigration, permits, and land matters, are positive and efficient.

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Stable economic conditions provide a stronger foundation for attracting investment, and the renewed interest we are seeing in Ghana demonstrates the importance of sustaining this progress.

Alhassan highlighted that even with sound policies and an improving economy, an investor's confidence can be undermined by delays in obtaining permits, resolving customs issues, or clarifying regulatory requirements. To combat this, GIPA established its Aftercare and Investor Grievance Division in 2020, focusing on structured post-establishment support. The new Focal Persons Network is designed to enhance this by providing designated institutional contacts who can facilitate the swift referral and resolution of investor concerns, recognizing that many issues span multiple government bodies.

The establishment of this network is further supported by the new Ghana Investment Promotion Authority Act, which includes a formal Investor Grievance Mechanism. Charles Opoku Mensah, Head of Aftercare and Investor Grievance at GIPA, stated that the recent forum was organized to build a structured ecosystem for identifying and resolving investor challenges, moving away from ad-hoc solutions. This coordinated approach is essential for ensuring a stable and attractive investment climate in Ghana.

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We may have the right policies and an improving economy, but if an investor cannot obtain a required permit on time, resolve a customs matter, receive clarity on a regulatory requirement or get a legitimate concern addressed, that experience can undermine confidence.