President Mahama Woos Japanese Investors, Announces Removal of Minimum Capital Requirement in GIPC Act
President John Mahama has announced that the revised Ghana Investment Promotion Centre (GIPC) Act will remove the minimum capital requirement for foreign investors seeking to set up businesses in Ghana.
Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD-9) in Japan, President Mahama said the reform will allow investors, regardless of the size of their capital, to enter the Ghanaian market.
“In the reviewed Ghana Investment Promotion Centre Act, we’re removing the minimal capital investments. This will enable any investor, however little money you have, $100,000, $50,000, to be able to come in and set up a business in Ghana,” he stated.
The President underscored Ghana’s longstanding relationship with Japan, noting that Japanese companies have already invested about $152 million in the country over the past decades. He expressed optimism that the investment footprint will expand further.
“We’re moving not only from overseas development assistance, but to trade and investment. The private sector will be that engine of growth,” he said, pointing out that trade between Ghana and Japan grew by over 24 percent between 2020 and 2024.
President Mahama highlighted priority investment sectors where Ghana seeks deeper Japanese participation, including automobile assembly, agribusiness, and agro-processing. He cited Ghana’s comparative advantage in agriculture, with vast arable land, abundant sunshine, and water resources, including the Volta Lake, the world’s largest man-made lake.
Outlining his vision for a “Volta Economic Corridor,” he said government intends to bring about two million hectares of land under irrigation, supported by industrial parks for agro-processing, textile manufacturing, and green transition investments.
“Ghana is still competitive when it comes to exporting into the American market despite a 15 percent tariff imposed under the Trump administration. We already have two industrial parks and Free Zones, and I invite you to pilot with us in automotive, agro-processing, or green transition investments,” he added.
President Mahama urged Japanese investors to consider Ghana as a strategic hub for West Africa, serving as a base for regional offices, production lines, and skills training collaborations with universities and vocational institutions.
“Ghana is a land of opportunity. Because of the discipline, quality standards, and industrial wisdom that Japanese businessmen have, we wish to encourage Japanese businessmen to look towards Ghana,” the President concluded.
