Event report
Strengthening Ghana’s Investment Climate: Key Insights from the Business Breakfast Meeting
Strengthening Ghana’s Investment Climate: Key Insights from the Business Breakfast Meeting
Ghana’s drive to position itself as a more competitive and investor-friendly economy took centre stage at a recent Business Breakfast Meeting held at the Mövenpick Ambassador Hotel in Accra. Organised by the Ghana Netherlands Business and Culture Council (GNBCC) in collaboration with the European Chamber of Commerce in Ghana (EuroCham), the event brought together policymakers, regulators, and private sector leaders to examine the country’s economic trajectory and the reforms shaping its business environment.
As a proud partner, CCI France Ghana joined fellow bilateral associations—including AHK Ghana and the Ghana Belgium Business Club (GBBC)—alongside key institutions such as PwC, the Ghana Investment Promotion Centre (GIPC), and the Ghana Revenue Authority (GRA). The engagement provided a platform not only for insight-sharing but also for direct dialogue on the realities of doing business in Ghana.
Discussions opened with a cautiously optimistic outlook on the economy. Vish Ashiagbor, Country Senior Partner at PwC Ghana, highlighted that Ghana exceeded growth expectations in 2025, recording a real GDP growth of 6.0%, driven largely by the services and agriculture sectors. This recovery, coupled with improved fiscal discipline and successful debt restructuring, contributed to sovereign credit rating upgrades by Moody’s, S&P, and Fitch—effectively moving the country out of default status.
However, as participants noted, macroeconomic gains tell only part of the story. While Ghana continues to perform strongly in areas such as financial services, challenges persist at the operational level. High costs associated with land, capital, and power, alongside limitations in market competition, continue to affect the ease of doing business. As Ashiagbor emphasised, Ghana remains “opportunity-rich, but still vulnerable to external shocks,” reinforcing the need for sustained and well-implemented reforms.
Beyond the macroeconomic outlook, regulatory transformation emerged as a key pillar in strengthening the investment climate. Vera Adjei of the GIPC’s legal division introduced the proposed Ghana Investment Promotion Authority (GIPA) Bill, which is set to replace the existing GIPC Act of 2013. The Bill represents a significant shift in Ghana’s investment framework, notably removing minimum foreign capital requirements that previously posed barriers to entry. It also introduces an Investor Grievance Mechanism designed to resolve disputes within a defined timeframe, while creating pathways for citizenship by investment in targeted sectors. Additionally, reforms to Technology Transfer Agreements aim to encourage more dynamic and accountable knowledge exchange between foreign and local partners. Collectively, these measures signal a move toward a more open, transparent, and investor-friendly regulatory environment.
Taxation reforms were also highlighted as a critical component of this transition. Representing the Ghana Revenue Authority (GRA), Elsie Appau-Klu outlined the institution’s shift from a traditional enforcement model to a more service-oriented approach. Central to this transformation is the introduction of a unified VAT rate of 15%, alongside a substantial increase in the registration threshold from GHS 200,000 to GHS 750,000—an adjustment aimed at easing the compliance burden on small and medium-sized enterprises.
In parallel, the GRA is accelerating its digitalisation agenda through the rollout of e-VAT systems and real-time transaction monitoring, measures designed to enhance transparency and improve compliance. The establishment of an independent tax appeals process further reflects a commitment to efficiency, offering businesses a more accessible and cost-effective means of resolving disputes.
A recurring theme throughout the engagement was the so-called “implementation gap”—the disconnect between well-designed policies and their execution in practice. During the interactive session moderated by Nicolas Gebara, CEO of EuroCham, participants raised concerns ranging from taxpayer experience to access to affordable financing, particularly in sectors such as agribusiness. While initiatives such as digitalisation and risk-sharing schemes are underway, speakers stressed that their impact ultimately depends on consistent implementation and the capacity of institutions to deliver effectively.
Looking ahead, there was a shared sense of cautious optimism. While structural challenges remain, the alignment of policy direction, regulatory reform, and stakeholder engagement reflects a strong commitment to improving Ghana’s investment climate. For businesses operating in and entering the market, these developments present both opportunities and a clear signal of ongoing transformation.
As these changes unfold, CCI France Ghana remains committed to supporting its members in navigating the evolving landscape and strengthening French-Ghanaian business relations.
Relive the moments by clicking on the ccifranceghana55.pixieset.com/jointchamberbreakfastmeeting/
