Ghana is set to abolish the minimum capital requirement for foreign investors under a planned review of the Ghana Investment Promotion Centre (GIPC) Act.

This is to boost Ghana’s competitiveness as an investment destination by lowering entry barriers and attracting more global capital.

It comes as policymakers intensify efforts to expand private sector investment and accelerate job creation.

President John Dramani Mahama announced the reform at the Presidential Investment Forum in Japan, where he pitched Ghana as a stable market with improving macroeconomic conditions.

He assured that Ghana remains open for business and urged more Japanese companies to explore opportunities in the country.

“We are open for business and working to review the Ghana Investment Promotion Center Act. Some barriers were put to 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 Center Act, we are removing those minimal capital investments. This will enable any investor, however little money you have to be able to come in and set up a business in Ghana,” John Dramani Mahama said.

He highlighted the cedi’s performance as the strongest among African currencies this year and pointed to the presence of several Japanese firms already operating in Ghana as proof of investor confidence.

“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 stabilized.

“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.”

Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, on her part described Ghana as a gateway to West Africa, highlighting the country’s potential as a strategic entry point for Japanese firms looking to expand and take advantage of the African Continental Free Trade Area (AfCFTA).

“Let us therefore move forward with determination, turning today’s dialogue into joint ventures, industrial clusters and supply chains that carry the stamp of both Ghanaian resilience and Japanese excellence,” she added.