The Ghana Investment Promotion Centre (GIPC) has launched a 24-Hour Premium Service to reduce processing times for key investor-related procedures.
Simon Madjie, Chief Executive Officer (CEO) of the GIPC, unveiled the new service at a press briefing highlighting its crucial role in enhancing the ease of doing business in Ghana and attracting foreign direct investment.
“The 24-Hour Premium Service will expedite the registration of investments, the processing of renewals, and the issuance and renewal of automatic quotas, all within a remarkable 24-hour timeframe,” he said.
GIPC processes take five days for registrations, 10-15 days for renewals, and 10 days for quotas, but this premium service compresses all steps into just 24 hours.
He said the system had already been successfully tested, with positive testimonials from satisfied clients, demonstrating GIPC’s commitment to efficiency, transparency, and investor convenience.
The CEO emphasised that the 24-hour clock services commence once the GIPC’s dedicated investor service department confirmed the completeness of all necessary legal documentation, an invoice is generated, and payment was received.
He underscored the critical importance of this initiative in addressing a key concern for investors, which is processing delays.
“In an increasingly competitive global market, where nations are vying for investment, enhancing the ease of doing business is not merely desirable. It is critical for attracting foreign investment,” he said.
He noted that the introduction of the 24-Hour Premium Service would offer a tangible solution to eliminate protracted waiting periods that could often hinder investment and business operations.
Madjie explained that the premium service aligned with the best global practices and offered significant advantages for investors.
“Notably, it directly supports Ghana’s commitment to the African Continental Free Trade Area protocol on investment, which emphasises the streamlining of investment administration processes.”
“We are therefore confident that this 24-hour premium service will send a convincing signal to the investor community that the GIPC, and indeed Ghana as a whole, is dedicated to investor-friendly policies that prioritise efficiency, transparency, and responsiveness,” he said.
He said the new service, coupled with ongoing efforts to review the GIPC Act to reflect current market dynamics, will significantly boost foreign direct investment and stimulate increased investment from local enterprises.
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