Investor challenges being resolved – GIPC

The Ghana Investment Promotion Centre (GIPC) has assured it is resolving bottlenecks that militate against smooth operations of investors in Ghana.

Some investors across different sectors have lamented challenges that have to do with the country’s fiscal, legal and regulatory regimes, which bottlenecks have contributed to the high cost of doing business in Ghana.

Frustration from the challenges have occasioned the departure of some investors to Ghana’s neighbours.

But in his engagement with investors at the maiden Aftercare forum in Accra Chief Executive Officer of the Centre, Mr Yofi Grant gave the assurance that the Centre has always been proactive about finding solutions to challenges faced by investors.

“We want every investment that comes into Ghana to benefit Ghana and so when there are issues, we try to resolve them; we realise that some of the times those issues are really no issues and come in the form of misunderstanding of the legal framework, others are a misunderstanding of the different agencies and how they operate and so we have reached out to the focal persons in the agencies to try and resolve them,” Mr Grant submitted.

The GIPC boss mentioned the investment grievance mechanism as one the tools his outfit employs to provide solutions to feedback received from investors.

Mr Grant described as extremely useful feedback received from the investor community, saying it is the GIPC’s mandate to ensure investments are safe and their owners can operate at reasonable costs

“The feedback we receive is extremely useful and important; we are providing a service, the service is for Ghana and so we have to make sure we bring the best for Ghana and at the end of the day when the investors come, they come with their money they set up businesses and they employ our people,” Mr Grant pointed out.

The Aftercare function of the GIPC is aimed at providing a more structured and strategic care for investors, support investor development, and facilitate efficient business operations within the country.

The Aftercare unit created in 2020 has been instrumental in assisting investors, post-establishment, navigate the regulatory landscape in Ghana and overcome any compliance challenges that may arise. It also mediates between government and investors to guide investor-friendly policy formulation.