Between 2017 and the first quarter of 2024, Ghana has seen a significant $13.1 billion investment across 1,193 projects in various sectors, according to Deputy Minister of Finance Alex Ampaabeng.

This substantial investment underscores strong economic trends and diverse opportunities within the country.

Addressing attendees at the 3rd edition of the Ghana Club 100 CEO’s Breakfast Meeting and the launch of the 21st GC 100 Awards, Dr. Ampaabeng revealed ongoing initiatives designed to enhance Ghana’s investment climate. Key efforts include revising the GIPC Act 2013 Act 865 to boost global competitiveness, developing a new investment code, and implementing an investor-driven mechanism system alongside advanced customer relationship management software. These steps reflect a commitment to continuous improvement and digital transformation.

Dr. Ampaabeng emphasized the importance of increased public-private collaboration to drive economic progress. He highlighted recent discussions between the Finance Minister and private sector leaders aimed at supporting economic goals through enhanced private sector engagement.

Furthermore, the Deputy Minister outlined ongoing efforts to improve Ghana’s business environment, noting a recent stakeholder engagement in May 2024 focused on enhancing the ease of doing business and addressing concerns about the country’s complex tax system.

As a Deputy Minister responsible for revenue, Dr. Ampaabeng acknowledged the need for a thorough review of tax policies and administrative processes to foster a more business-friendly environment. He stressed the necessity of a fair and efficient tax system, broader tax base, and improved compliance to generate essential revenue for development.

Looking ahead, Dr. Ampaabeng is confident that the ambitious agenda for the private sector, combined with current policies, will effectively reposition Ghana on a growth trajectory and make it an attractive destination for foreign direct investment (FDI).