Ghana Remains Attractive for FDI Says GIPC CEO; Backs President’s Economic Reset Agenda
Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has reaffirmed Ghana’s position as a favourable investment destination, citing ongoing policy reforms and strategic initiatives to attract foreign direct investment (FDI), particularly in the financial technology and manufacturing sectors.
Speaking at the 9th Ghana CEO Summit held in Accra under the theme, “Leading Ghana’s Economic Reset: Transforming Business and Governance for a Sustainable Futuristic Economy,” Mr Madjie noted that investor confidence in Ghana remains strong despite global economic challenges, and that government intends to sustain and deepen reforms to consolidate this trajectory.
“Ghana is a favourable place for many businesses, and so the expectation is that we are going to continue on that trajectory,” he said, referencing President Mahama’s pledge to review the Ghana Investment Promotion Law.
According to the GIPC CEO, the proposed review of the investment law aims to address specific concerns raised by investors, streamline the investment process and improve the ease of doing business in the country.
Mr Madjie further disclosed that the President has declared Ghana open for business and is keen on positioning the country as a hub for FDI in the financial and technology sectors, supported by proactive regulatory institutions such as the Bank of Ghana.
“We do have a vibrant Bank of Ghana as a good regulator for those that are in fintech, and there’s also the growing demand for fintech service across the country,” he said.
He revealed that in line with this vision, President Mahama has proposed the creation of a $50 million fintech fund to support innovation in the sector—a move that, when implemented, would further boost investor interest and startup growth.
Beyond fintech, Mr Madjie emphasised opportunities in manufacturing and infrastructure, encouraging foreign investors to partner with local businesses to tap into Ghana’s vibrant, skilfull, innovative and youthful population.
“We have a young, vibrant society where people are innovative, and that’s what is encouraging a lot more innovation. We encourage those who have the resources to invest and come into partnership with Ghanaians,” he stated.
Responding to questions on major investment deals akin to recent agreements signed by the Gulf countries, the GIPC boss acknowledged that while such deals take time to materialise, investor interest in Ghana remains high.
“There are major interests, but major deals take time. It takes some time to close some of these deals, to have an agreement and sign it off,” he noted.
Mr Madjie advised Ghanaian businesses to position themselves to take advantage of the emerging investment opportunities and prepare for the type of partnerships required to support Ghana’s broader economic reset agenda.
