Ghana is pitching fresh policies in textiles, agribusiness and component manufacturing to attract investors beyond its usual claims of political stability and market size. Simon Madjie, CEO of the Ghana Investment Promotion Authority (GIPA), said these new sector policies form the cornerstone of the country’s evolving investment strategy.
Speaking on JoyNews’ PM Express Business Edition, Madjie pointed to specific reforms at the Ministry of Trade. “There’s a new textiles policy, there is an agribusiness policy, you have one on component manufacturing,” he said. These initiatives are intended to position Ghana as a place where investors can establish and grow profitable businesses.
Madjie framed the approach as a shift away from relying solely on Ghana’s image as a stable democracy. “Ghana is not just selling political stability. Ghana is selling reforms,” he told host George Wiafe. The question had come amid rising competition for investment in West Africa, where neighbouring countries have boosted their own appeal.
He said changes to tax and customs laws were part of a broader effort to create prosperity for both investors and local communities. “All of these are geared towards making us that place where, when people think about Ghana, they think about a place to thrive, a place to do business, and a place to prosper.”
For Madjie, natural advantages like peace and market size remain important but not sufficient on their own. “Because you need reforms to keep growing your investment here,” he added. He also highlighted the importance of credible leadership across government, from the presidency through ministries to local authorities.
“You need confidence in leadership,” Madjie said. “That’s what investors look for.” He described the current policies as part of a long-term plan combining sector focus with institutional stability.
The textiles sector policy aims to revive an industry that, decades ago, was a major employer and exporter for Ghana. Agribusiness policies target value addition in farming, seeking to move beyond raw exports. Meanwhile, the component manufacturing policy looks to develop local supply chains tied to larger industrial growth.
Madjie declined to provide specific investment targets or timelines but presented the reforms as a response to evolving investor expectations. “So we know we have natural advantages, but we’ve moved beyond that to creating an environment where businesses can actually thrive and prosper.”
The Ghana Investment Promotion Authority has faced criticism in the past for slow progress on attracting large-scale manufacturing projects. The new approach suggests a more policy-driven strategy rather than relying on soft factors alone.
These changes come as the West African region experiences shifting economic dynamics. Neighbouring Nigeria, Ivory Coast and Senegal have each unveiled initiatives to lure foreign direct investment, from tax incentives to infrastructure upgrades.
Madjie’s comments indicate Ghana wants to compete on a deeper level, using policy frameworks to provide certainty and facilitate growth. Whether this translates into significant new investment remains to be seen.
For now, Ghana’s pitch emphasises not only peace and size but a deliberate effort to reform sectors with potential to generate jobs and exports. Madjie framed this as essential for sustained growth. “You need reforms to keep growing your investment here,” he said.
The investment environment Ghana is offering now blends traditional strengths with a clearer policy agenda designed to support businesses beyond initial entry.
According to Joy Online.
