A commentary on Ghana’s State of the Nation Address (SONA) held on 27th February 2024

President Nana Addo

Introduction

The President of the Republic of Ghana, H.E Nana Addo Dankwa Akufo-Addo, presented the State of the Nation Address (SONA) to Parliament on 27th February 2024 in fulfillment of Article 67 of the 1992 Constitution. This article mandates the President to deliver a message on the state of the nation at the beginning of each session of Parliament and before its dissolution.

The SONA serves as a crucial platform to inform the nation of the government’s current economic, political, and social initiatives. Additionally, it provides an opportunity for the President to highlight the achievements and outline the future plans of his administration for the remaining period of his term in office.

The Research Team of GIPC, the government agency mandated to encourage, promote and facilitate
investments into Ghana provides a commentary on the SONA, analyzing it in relation to government’s
initiatives on investment and how these initiatives impact Ghana’s investment climate.

 

Summary of Investment related Initiatives contained in the SONA

 

In the latest State of the Nation Address for 2024, the focus on investments in Ghana was paramount. The address highlighted various initiatives and projects across different sectors, showcasing the government’s commitment to progress and development.

One notable initiative is the Digitalization of the economy which has been a significant focus, with various public services now accessible online, placing Ghana at the forefront of e-governance in Africa. The implementation of drone technology for medical deliveries further demonstrates Ghana’s embrace of
technological advancements to improve healthcare accessibility.

 

Click here to download full commentary

Economic Counsellors Dialogue : Ghana seeks to modernize investment agreements to increase FDI inflow.

Thursday 30th April 2024 – The Ghana Investment Promotion Centre (GIPC) convened a meeting with Ambassadors, economic counsellors, and investors at the Centres Economic Councellors dialogue, held at the Labadi Beach Hotel. The discussion focused on  the theme: Navigating the evolving landscape of international investment agreements.

 

In his opening remarks, the CEO of the GIPC, Yofi Grant, emphasized the critical role of international agreements in facilitating investments. He highlighted that these agreements provide a mechanism for the facilitation of investments and create a better environment for stakeholders to trade and invest. Mr. Grant also reiterated Ghana’s commitment to creating a conducive business environment, stating, “Ghana is open for business, and we are negotiating our business environment for our mutual benefit.”

 

Special guest at the event, the Minister of Foreign Affairs, Hon. Shirley Ayorkor Botchway, emphasized the need to review Ghana’s existing agreements to ensure they align with the dynamic changes in the global economic landscape. Hon Ayorkor Botchway went on to highlight various innovations undertaken by the government to ensure a dynamic and favorable business environment for foreign investors. She mentioned initiatives such as the e-business registration system, paperless port clearance system, digital address system, mobile money interoperability system, and a national identity card system which are crucial in sustaining foreign investments.

 

Naa Lamley Orleans-Lindsay, Head of Legal at the GIPC, provided insights into Ghana’s approach to international investment treaties. She explained the shift towards renegotiating older agreements ie. Bilateral Investment Treaties (BITs) in favor of establishing new generation BITs that better reflect current economic realities. Orleans-Lindsay emphasized Ghana’s adoption of ‘New Generation’ BITs, aiming to achieve a more balanced approach by incorporating provisions that reflect the broader policy objectives of host governments, such as sustainable development goals for investments.

 

The meeting provided a platform for open dialogue and collaboration, underscoring Ghana’s commitment to fostering a conducive investment environment and promoting mutually beneficial partnerships with international stakeholders.

 

 

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CEO’S Breakfast Meeting

q2 ceo's breakfast meeting 2024.

On May 16, 2024, the GIPC will have its next CEO’s Breakfast Meeting under the theme “Regulatory Framework for Tourism: Infrastructure and Its Growth”.

 

This high-level event will provide an excellent platform for relevant stakeholders in the tourism industry to network, exchange ideas, & delve deeper into discussions related to government policies and regulatory reforms crafted to promote private sector participation in the development of tourism infrastructure.

 

For more details, kindly contact:

 

celestina.odonkor@gipc.gov.gh  or 0247173701