Akufo-Addo inaugurates GIPC board

The president says he was optimistic in the new board to assist GIPC in undertaking measures that will enhance Ghana’s investment climate

President Nana Akufo-Addo Dankwa, has performed the swearing-in of a 10-member board for the Ghana Investment Promotion Centre (GIPC), at the Presidency.

The president described the work of the newly inaugurated board, chaired by Alex Apau Dadey, as “crucial”, amid the country’s gradual recovery from the global pandemic.

He, however, expressed fervent optimism in the board, to assist GIPC in undertaking measures that will enhance Ghana’s investment climate for both local and foreign enterprises.

“I am convinced that with the new board in place, GIPC will be better positioned to exhibit the myriad business prospects available not just to the rest of the globe, but also to indigenous local investors” the president said.

The GIPC’s new board chairman, and founder of KGL Group, Dadey assured of the board members’ commitment to help improve the country’s investment portfolio, in support of the Ghana Beyond Aid agenda. He said the Board’s short and medium-term plan, will be to facilitate FDI flows, of US$3 billion in 2021, and US$4 billion in subsequent years.

“Our short- and medium-term strategy, is to facilitate US$3 billion in 2021 and US$4 billion per year in 2022 and 2023 to support the Ghana CARES “Obaatanpa” programme. This is aimed at mitigating the impact of the COVID-19 pandemic, return the country to a sustained path of robust growth,” Dadey said.

He added that, the 10-member board will work at accelerating reforms to the GIPC law, and collaborate with the relevant agencies to facilitate ease of doing business in the country.

Other members of the Board include; chief executive officer of the GIPC, Yofi Grant; first Deputy Governor of the Bank of Ghana (BoG), Maxwell Opoku- Afari and director general of the National Development Planning Commission (NDPC), Dr Kodjo Esseim Mensah Abrampa.

The rest are, deputy minister of Trade and Industry, Nana Dokua Asiamah-Adjei; deputy minister for Finance, Dr John Ampontuah Kumah, a representative from the Private Enterprise Federation (PEF), Kwaku Agyeman-Duah; Robert Ahomka-Lindsay (member), Nora Bannerman-Abbott (member), and Margaret Ekua Prah (member).

The GIPC is Ghana’s foremost investment promotion and attraction Agency, mandated by the GIPC Act, 2013 (Act 865), to promote, coordinate and facilitate investment (both local and foreign) in the Ghanaian economy.

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