Ghana is Open for Business: A New Dawn for Investment and Economic Prosperity
Ghana is Open for Business: A New Dawn for Investment and Economic Prosperity
Ghana is Open for Business: A New Dawn for Investment and Economic Prosperity
By Simon Madjie, Acting CEO, Ghana Investment Promotion Centre (GIPC)
Ghana is at an important moment in its economic journey, on a reset borne out of a vibrant and visionary leadership, and a renewed hope.
The country is once again open to become the premier destination for both local and foreign investors in Africa.
With a focus on comprehensive economic recovery, infrastructure
development, and regulatory reforms, the Government of Ghana is firmly committed to creating a friendly business environment that fosters growth, innovation, and sustainable development.
Investors in the recent past struggled with a number of challenges stemming from worsening economic conditions that saw some of them fold up and leave the country. Persistent currency depreciation, rising inflation, and high import costs significantly increased the cost of doing business.
Frequent power outages and high utility bills further strained operations, making the business environment less attractive. Some, overwhelmed by these challenges, moved their investments out of Ghana, resulting in job losses and a slowdown in the country’s economic growth.
1.Recent studies also reveal that investors and the business community continue to grapple with several challenges: poorly coordinated regulations, overlapping mandates among state agencies, inefficient public services, macroeconomic instability, high tax rates, costly credit, infrastructure
deficiencies and corruption which negatively impact the investment climate.
2. The recent State of the Nation Address by President John Dramani Mahama and the President’s opening remarks at the National Economic Dialogue, delivered a clear and compelling message of
hope to both domestic and foreign investors:
Ghana is Open for Business. With a strategic vision to reset the economy, the government is laying the groundwork for sustainable economic growth,
underpinned by fiscal discipline, investment-friendly policies, and a renewed commitment to infrastructure development.
