Ghana

Ghana

Ghana Investment Promotion Centre

The Ghana Investment Promotion Centre (GIPC) is a government agency, re-established to encourage, promote and facilitate investments in all sectors of the economy except mining and petroleum

GIPC facilitates and supports local and foreign investors in both the manufacturing and services sectors as they seek more value-creating operations, higher sustainable returns and new business opportunities.

Objectives & Functions

The GIPC co-ordinates and monitors all investment activities falling under Act 478 and assists both domestic and foreign investors in:

•Initiating and supporting measures that will enhance the investment climate in the country for both Ghanaian and non-Ghanaian companies.

•Promoting investments in and outside Ghana through effective promotion.

•Collecting, collating, analysing and disseminating information about investment opportunities and sources of investment capital, and advising on the availability, choice or suitability of partners in joint-venture projects;

•Registering and keeping records of all enterprises to which this Act is applicable.

•Identifying specific projects and inviting interested investors for participation in those projects initiating, organizing and participating in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments.

•Maintaining a liaison between investors and ministries, government departments and agencies, institutional lenders and other authorities concerned with investments

•Providing and disseminating up-to-date information on incentives available to investors.

•Assisting investors by providing support services including assistance with permits required for the establishment and operation of enterprises.

•Evaluating the impact of the Centre on investments in the country and recommending appropriate changes where necessary.

•Registering and keeping records of all technology-transfer agreements relating to investments under this Act.

•Performing such other functions as are incidental to the attainment of the objectives of this Act.

INVESTMENT OPPORTUNITIES

•Provision of agricultural inputs such as improved seeds and agrochemicals including fertilizers, pesticides and herbicides. Veterinary drugs, vaccines and chemicals; animal feed and feed ingredients are also
required.

•Opportunities exist in  the processing of agricultural products such as cereals (maize, rice, millet) starchy crops (yam, cassava. Sweet potato, plantain), legumes (carrots, cabbage, garden eggs, tomato), fruits (pineapple, pawpaw, banana, mango), industrial crops (rubber, sugarcane, cotton, oil palm, coconut, cocoa, coffee), livestock (cattle, pigs, poultry, sheep) and fisheries (tuna, tilapia, catfish). Rearing of silk worm for the production of raw silk.

•Additionally there is a need for the processing of dairy products as well as the supply of machinery to establish hatcheries for day-old chicks.

•Floriculture offers a lot of opportunities as Ghana’s climate and topography make the country suitable for the cultivation of a number of exotic flowers. Species such as heliconia, caribea, celosia, curcuma, gladioli, hibiscus, roses, ornamental palms and ferns perform well under natural conditions. There is potential in the national, regional and European Union markets.

•Developing irrigable land through irrigation is another key area. While Ghana has a potential irrigable area of 346,000 hectares, only 10,000 hectares have been developed.

•Technological and support services also require investment. Key areas are in the supply and installation of cold chain equipment, packaging and factory building technology,

•In the distribution field, companies are required to provide post-production services in transport, packaging and cold vans.

•There are further opportunities in standards, training and certification; capacity building for management and market-oriented enterprises; market intelligence research and in the development of agricultural finance and insurance.

•Investment opportunities exist in the production of agricultural inputs such as fertilizers, pesticides and fungicides.

•Technology and services in the agricultural sector which include irrigation, heavy equipment hiring (i.e. hiring of tractors, ploughs, harrows and combine harvesters etc) provide investment opportunities.

•Investment opportunity also exists in the storage industry. Inadequate and inappropriate storage facilities are constraints to agricultural production thereby contributing to high post-harvest losses and low returns for farmers
and processors.

INCENTIVES AND BENEFITS

•The business of converting crops, fish or livestock produced in Ghana into edible canned or other packaged products other than in their raw state enjoy a tax holiday of 3 years from commencement of commercial production.

•Agro-Processing businesses established in Ghana after 1st January 2004 enjoy a five year tax holiday from the date of commencement of business.

•Companies producing cocoa by-products from coca waste also enjoy 5 years tax holiday from date of commercial production.

•Companies engaged in the processing of waste products enjoy 7 years tax holiday from date of commercial production.

•Incomes from cocoa for cocoa farmers are exempt from income taxes.

•The law also permits farming losses to be carried for five years of
assessment.

•There are also further location-based incentives for agro-processing enterprises. Please consult our website for updates on these locations and tax
rates.

•There are exemptions of import duties on imported plant, machinery and equipment.

•Tariff incentive – zero rated for agro inputs, plant and machinery.

•Non-tariff incentive – observation of regulations on import/export of agro-products.