Experts Clash Over GIPC’s Investment Mapping Strategy
Ghana Investment Promotion Centre’s (GIPC) investment mapping initiative to identify opportunities across all districts in the country has come under scrutiny, with experts sharply divided over the necessity of a proposed investment mapping initiative.
The debate unfolded during the NorvanReports and Economic Governance Platform (EGP) X Space discussion on the topic, “Ghana’s Investment Pitch: Are We Ready to Compete in the Global Market for Fresh Investments?” on Sunday, where analysts assessed the country’s competitiveness in attracting global capital.
Dr. Theo Acheampong, Petroleum Economist and Political Risk Analyst, delivered a scathing critique of the Ghana Investment Promotion Centre’s (GIPC) plan, dismissing it as an exercise in redundancy and fiscal imprudence.
“To be frank, this is one of my biggest frustrations with Ghana—we tend to duplicate efforts and squander resources on unnecessary initiatives,” Dr. Acheampong stated. He cited previous investment mapping exercises, including the Enterprise Map of Ghana authored in 2014, as well as reports commissioned by the Ministry of Trade and Industry with UNIDO backing.
“In a climate where fiscal prudence is paramount, launching another investment mapping initiative adds an extra bureaucratic layer with little guarantee of tangible outcomes,” he said, cautioning against policy inertia.
He also pointed to the World Bank’s new business-ready report, which has now replaced the discontinued Doing Business report, as a more effective tool for benchmarking Ghana’s investment environment.
However, Prof. Agyapomaa Gyeke-Dako, Associate Professor of Economics at the University of Ghana, argued that an updated investment mapping exercise remains essential for identifying infrastructure gaps and shaping targeted policies.
“Infrastructure evolves—sometimes for the better, sometimes for the worse. A refreshed mapping exercise would help policymakers understand where interventions are most needed,” she asserted.
Dr. Wisdom Dogbey, Economic Advisor at the Ministry of Finance, also commenting on the issue, called for a coordinated approach between the Finance Ministry and GIPC to ensure that investment facilitation aligns with broader economic objectives.
“It is imperative that the Ministry of Finance and GIPC collaborate to streamline investment promotion efforts in line with the 2025 budget’s strategic priorities. The finance minister is focused on attracting capital to drive economic expansion,” he remarked.
He acknowledged the need to reassess the relevance of existing data, noting that economic dynamics are constantly evolving.
“The question is whether our current data remains fit for purpose or if a fresh collection effort is warranted. The Finance Ministry can provide macroeconomic projections, while GIPC and the Trade Ministry contribute intelligence on investment trends and sectoral priorities.”
Dr. Dogbey further underscored the necessity of a robust investment database, integrating economic indicators and sectoral strengths, to identify high-growth industries such as agriculture, mining, tourism, and technology.
According to the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, the Centre is set to launch a comprehensive investment mapping initiative to identify opportunities across all districts in the country.
The move, according to the Centre’s Chief Executive Officer, aims to enhance local and foreign investment prospects while strengthening Ghana’s overall economic competitiveness.
Speaking on the sidelines of the National Economic Dialogue (NED), the CEO emphasized the importance of regional investment mapping, highlighting its potential to provide clear guidance for local entrepreneurs and foreign investors alike.
The initiative is expected to serve as a crucial tool for Ghana’s diplomatic missions abroad, enabling them to market specific investment areas to international investors with greater precision.
“Instead of general investment promotions, we will now be able to highlight precise opportunities—such as farming along specific water bodies or manufacturing hubs in designated regions,” the CEO explained. “This data-driven approach will improve how we position Ghana globally and attract the right kind of investments.”
