GIPC to realign foreign direct Investments priorities to 24-hour economy policy   

Simon Madjie Announces New Investment Strategy for Ghana

Mr. Simon Madjie is the CEO of the Ghana Investment Promotion Centre (GIPC). He recently announced a new strategy to support the government's "24-hour economy" policy.

During a meeting with staff, Mr. Madjie stressed the need for streamlined operations. This will help attract global investors and boost economic growth.

A key part of this strategy is modernizing the GIPC Act. This legislative review began under previous leadership, and he aims to complete it quickly.

The updated framework will speed up investor registrations and improve digital services. It will also align incentives with important sectors like manufacturing, logistics, and technology.

“To compete globally, we must allow seamless operations at any hour,” he said. “This requires agile systems and collaborative governance.”

Mr. Madjie outlined plans to reduce bureaucratic delays through partnerships with agencies like the Registrar-General’s Department and Ghana Revenue Authority.

By harmonizing processes, GIPC hopes to enable after-hours business registrations and tax clearances. These are essential for realizing the 24-hour economy vision.

He also revealed plans for regional investment desks in all 16 regions. These desks will be staffed by directors who promote local opportunities for round-the-clock ventures.

“From agribusiness in the North to tech parks in Greater Accra, we’re tailoring solutions,” he added.

Additionally, GIPC will launch an ‘AfterTa Desk’ to leverage the African Continental Free Trade Area (AfCFTA). This initiative aims to help Ghanaian businesses access continental markets effectively.

Mr. Madjie highlighted that AfCFTA’s tariff reductions are crucial for faster logistics and night-time production cycles.

He promised training initiatives for GIPC staff to handle investor inquiries around the clock. Digital tools and investor relations training will be prioritized.

Mr. Madjie reaffirmed Ghana's openness to business collaboration with the private sector. He emphasized building infrastructure like reliable energy and digital networks for 24-hour operations.

Former GIPC CEO Mr. Yofi Grant attended the handover ceremony and supported this new strategy. He urged staff to embrace Mr. Madjie's vision.

“The 24-hour economy is not just a slogan; it’s transformative,” Grant said. “GIPC’s realignment shows Ghana's readiness for global investors.”

Source: GNA