The Ghana Investment Promotion Centre (GIPC) has reviewed the recent write-up by Bright Simons and wishes to provide clarifications on the matters discussed.
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Technology Transfer Agreements (TTAs)
Nature and Registration of TTAs:
Clarification: Technology Transfer Agreements (TTAs) involve a Ghanaian company (the Transferee) and a foreign company (the Transferor) for the provision of services, including industrial property rights, technical services, know-how, and management services, for a minimum duration of 18 months. The Transferee is required to pay fees to the Transferor for these services.
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GIPC’s Role: Contrary to the claims made, the GIPC does not ‘validate’ TTAs. According to the GIPC Act 2013 (Act 865), the GIPC’s role is to register and maintain records of all TTAs. We do not estimate or set the value of technology to be transferred. The parties involved in the TTA determine the fees based on the thresholds set by the TTA Regulations (LI 1547, 1992).
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Fees and Charges:
Clarification: The fees paid to the GIPC for registering TTAs are based on the fees set by the parties to the TTA, within the established thresholds, and the duration of the agreement. According to the Fees and Charges Regulations 2023, these fees are specified in Ghanaian cedis and must be paid in cedis.
According to the Fees and Charges Regulations 2023, all fees for services provided by the Ghana Investment Promotion Centre are specified in Ghanaian cedis and must be paid in cedis. The Centre does not accept payments in dollars. If you have any further questions about the fee structure or payment methods, it might be helpful to consult the specific regulations or contact the Centre directly for more detailed information.
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Internally Generated Funds (IGF)
Generation of Funds:
Clarification: The GIPC consistently generates funds through its services. For the second quarter of 2024, the Centre generated GHC 34,075,323 from its service offerings. However, 34% of this amount is transferred to the Ministry of Finance in accordance with the Capping and Realignment Act 2017, while the remaining 66% is retained for the Centre’s operations.
Moreover, the recent enactment of the Exemptions Act 2022 (Act 1083) has significantly reduced the Centre’s revenue. The processing of exemptions, previously a major revenue source, has now been shifted to the Ministry of Finance and Parliament. This change has thus resulted in a substantial decline in the GIPC’s overall income.
Nonetheless, the claim by Bright Simons suggesting that the GIPC generated no funds during this period is incorrect.
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