President Akufo-Addo pledges to review Ghanaian foreign investment law

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The President of Ghana, Prof. Nana Akufo-Addo, has expressed the government’s readiness to reconsider the one million dollars capital base

Akufo-Addo gave the assurance in a meeting with the Speaker of the House of Representatives, Rep. Femi Gbajabimila, on Friday in Jubilee House in Ghana.

It could be recalled that several foreign businesses, including many Nigerian businesses, in Ghana have been facing challenges with regard to the implementation of the GIPC law. The president suggested the setting up of a joint ministerial committee between both countries to spearhead issues between Ghana and Nigeria.

“A Nigeria-Ghana business council that will superintendent trade matters and investment matters between our two countries may be long overdue.“I suggested to Mr. President that it will be a good idea to set up a joint ministerial committee of ministers from both sides who will be responsible for shepherding Ghana and Nigeria issues, reporting to both presidents at any one time, and that is how they should be resolved.

“We have proffered a few suggestions, one of which is the establishment of Ghana/Nigeria Business Council backed by legislation on both sides,” Gbajabiamila said.

 

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