By Kizito CUDJOE
The government is considering revisions to Act 865, the law that established the Ghana Investment Promotion Centre (GIPC), as part of efforts to strengthen the country’s investment framework and attract more foreign direct investment, Trade, Agribusiness and Industry Minister, Elizabeth Ofosu-Adjare, has said.
Speaking at the swearing-in ceremony of the GIPC governing board in Accra, the Minister said the government is committed to helping the board fulfil its mandate more efficiently and deliver a measurable impact.
She commended the capabilities of the new board members, appointed by President John Dramani Mahama, and stressed the need to create a supportive environment to enable the board’s success. “I congratulate you and hope that this tenure will be the best ever in the country,” she added.
GIPC is the state agency tasked with promoting and facilitating investment in Ghana. Its responsibilities include crafting a transparent regulatory environment, administering investment incentives, and supporting initiatives that make the country more attractive to both local and international investors.
The Board Chair, Akwasi Oppong-Fosu, a former Minister of Environment and Local Government, expressed appreciation for the opportunity to serve and said the board would focus on fulfilling its statutory obligations. Other board members include Dr. Zakaria Mumuni, Dr. Audrey Smock Amoah, Thomas Nyarko Ampem, Simon Madjie, Dr. Reuben Owusu Gyamfi, John Awuah, Mercy Afrowa Needjan, Major Christine Naa Adoley Oko (Rtd), and Sampson Ahi.
Minister charges GEXIM board to support export-led growth
In a related development, the Minister also inaugurated the governing board of the Ghana Export-Import Bank (GEXIM), urging members to collaborate closely with the Ministry to expand Ghana’s export economy.
Acknowledging the professional backgrounds of the newly appointed members, Elizabeth Ofosu-Adjare said: “I expect that you execute your mandate professionally toward improving our exports.” She added that President Mahama’s focus on boosting exports informed the creation of an advisory board to support GEXIM’s work. She expressed confidence that the board’s efforts would lead to improved performance at the bank.
Responding on behalf of the board, newly sworn-in Chair, Dr. Joseph Nyarkotei Dorh, outlined five strategic focus areas in line with GEXIM’s mandate and the President’s push for a 24-hour economy.
These include strengthening the link between agriculture and agribusiness, increasing food production to improve food security, supporting import substitution, driving export growth, and accelerating garment and apparel manufacturing. “More specifically, our concentration shall be on two sectors—increasing rice production and expanding Ghana’s poultry industry,” Dr. Dorh said, adding that the board aimed to contribute meaningfully to the broader objectives of the bank.
Other members of the GEXIM board include Samuel Danquah Arkhurt, Sampson Ahi, Matilda Asante-Asiedu, Francis Kojo Kwarteng Arthur, Stephen Abbas Miezan, Adamu Robert Akati, Millicent Samira Lardi Glawu, and Sylvester Adinam Mensah.
