Ghana’s President, H.E. John Dramani Mahama, recently announced Cabinet’s approval of proposed amendments to the Ghana Investment Promotion Centre Act, 2013 (Act 865).
He described it as a critical step forward to “enhance social protection, create an enabling environment for the 24-hour economy, and promote conducive business and labour relations.”
In this piece, we continue our conversation with the Director of GIPC’s Legal Division, who shares key updates on the Act’s review and what investors can expect from the new GIPC law.
Dive into the full conversation below.
Q. Will the new GIPC Act reintroduce any exemptions, given that the previous provisions were repealed by the 2022 Exemptions Act?
Ms. Orleans-Lindsay: The 2022 Exemptions Act repealed sections of GIPC’s Act to grant incentives.
Currently, our role is limited to screening applicants to confirm if they operate in priority areas, then we forward it to the Ministry of Finance, which handles negotiations and approvals.
However, in the new bill, we are proposing to regain a more active role, working with agencies like Ghana Revenue Authority (GRA) and Customs to help process exemptions, especially for machinery and equipment. It is still being finalized but we hope Parliament approves this expanded role.
Q. Will the new bill include anything specific for diaspora investors, like definitions or special incentives?
Ms. Orleans-Lindsay: At the moment, it’s still under discussion. I’m not sure if we’ll define diaspora investors or offer special incentives, like fast-tracking permits or waiving certain fees. We’ll get clearer direction as things progress.
Q. The Act mentions Technology Transfer Agreements. With how far we’ve come—from floppy disks to AI—are there any major updates planned for the Act or the TTA law?
Ms. Orleans-Lindsay: Yes, the bill expands and clarifies TTA rules, but doesn’t make major changes since the current language is broad enough to cover everything from AI to older tech. It uses open terms like ‘services’ and ‘management,’ which stay relevant over time. We’ll keep engaging stakeholders to decide whether to stay broad or be more specific, but overall, the updates should make things clearer and easier to apply.
Q. Are there very new things investors should expect?
Ms. Orleans-Lindsay: We plan to update the functions of the Centre to reflect modern investment practices. A key new provision is the introduction of an Investor Grievance Mechanism, a formal system to help resolve misunderstandings between investors and government institutions before they escalate into legal disputes.
Another significant change is the proposed name change from Ghana Investment Promotion Centre (GIPC) to Ghana Investment Promotion Authority (GIPA). This reflects the Centre’s expanded role, encompassing promotion, facilitation, and regulation.
Also, as signatories to the African Continental Free Trade Area (AfCFTA) Protocol on Investment, we are aligning the new bill with key provisions from the Protocol to ensure our legal framework meets continental standards for investor protection and facilitation.
The new Act will further prioritize investments that support sustainability and development goals, like the Sustainable Development Goals.
We’re adding investor obligations in areas like human rights, labour, Corporate Social Responsibilities, climate, and the environment. In the past, we prioritized Foreign Direct Investment over local development but now we want investments that benefit both the investor and the local community through training, capacity building, and compliance with Ghana’s laws.
Q. What level of consultation has gone on, especially with our stakeholders?
Ms. Orleans-Lindsay: We’ve been holding consultations since the law came into effect in 2013, with more focused efforts starting in 2018 through to 2023. When the bill went to Parliament, we held several rounds of stakeholder engagements in 2024, some with the GRA and Bank of Ghana on TTAs and related issues. So, we’ve had consistent engagement over the past five years.
Q. There’s a lot of excitement about the new law. But with the ongoing consultations on TTAs and the change in government, when do you think the Act will be ready?
Ms. Orleans-Lindsay: Parliament will ultimately decide when the law is passed. We submitted it in 2023, held stakeholder meetings, and met with the Finance Committee. But unfortunately, things stalled due to political issues and the election.
However, under the World Bank’s Development Policy Operations (DPO) bailout, one condition for disbursing funds to Ghana is the passage of the new GIPC Act. So, we are hopeful that, with pressure from stakeholders and the World Bank, the law will be passed sometime in 2025, but it is up to Parliament to make the final call.
Q. How will you describe the new Act?
Ms. Orleans-Lindsay: Innovative and Transformational.
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