The Ghana Investment Promotion Authority (GIPA) has announced major changes under the GIPA Act, 2026 (Act 1173), including the removal of minimum capital requirements for wholly foreign-owned businesses and joint ventures.

Principal Investment Promotion Officer at GIPA, Vera Adjei, said the requirement has been scrapped, except for trading enterprises.

“The minimum capital requirements for wholly foreign-owned business as well as joint ventures have been scrapped,” she said.

She explained that trading enterprises will still require a minimum equity of US$500,000 in cash, as well as a workforce comprising 75% skilled Ghanaian employees.

Madam Adjei was speaking during a panel discussion at the International Chamber of Commerce Ghana CEO Breakfast Meeting on the theme “Networking for Ghana within a 24-Hour Economy.”

She said the revised law also establishes a One Stop Shop and an Investor Grievance Mechanism to improve the investment process and provide avenues for investors to address concerns.

The activities reserved exclusively for Ghanaians, commonly known as the negative list, have also been retained.

A new provision under the Act is citizenship by investment, which GIPA will implement in collaboration with the Ministry of the Interior.

Madam Adjei also cautioned that letting or subletting shops to foreigners remains an offence.

“Letting or subletting shops to foreigners remains an offence liable on summary conviction,” she said.

Offenders face a fine of between 2,000 and 4,000 penalty units, with each penalty unit currently valued at GH¢12.

She added that GIPA is being empowered to administer administrative penalties for certain offences, while further measures will be applied to enterprises that continue to contravene the law.

“There are also measures to deal with enterprises who continue to contravene the Act regardless of these penalties,” she said.

Madam Adjei said GIPA will soon engage stakeholders to explain the key changes introduced under the GIPA Act, 2026 (Act 1173).