GIPC moves to Scrap Capital Thresholds to Unlock Patient Funding for SMEs

The Ghana Investment Promotion Centre (GIPC) is pushing for sweeping amendments to the GIPC Act aimed at unlocking patient capital for small and medium-sized enterprises (SMEs), as policymakers seek to reposition Ghana as a preferred destination for impact-driven and diaspora investment.

Speaking at the 2026 Africa Prosperity Dialogues, the Deputy Chief Executive Officer of GIPC, Mr Abdul-Razak Baba, signalled a decisive shift in Ghana’s investment strategy, from prioritising large-ticket foreign direct investment (FDI) to deliberately attracting smaller, long-term capital aligned with SME growth and AfCFTA expansion.

Mr Baba acknowledged that Ghana’s existing investment regime was designed primarily to attract multinational corporations and major foreign investors. However, minimum foreign capital requirements embedded in the law have, in practice, excluded smaller-scale investors and impact funds seeking exposure to Ghana’s SME sector.

“These laws were well-intentioned,” he noted, “but minimum foreign capital thresholds have closed Ghana’s doors to smaller-scale investors who want to back our SMEs.”

GIPC is therefore championing reforms to eliminate those thresholds, a move expected to open the market to venture capital firms, angel investors, diaspora financiers and blended finance vehicles.

“When these reforms pass, they will signal that Ghana is open for inclusive, SME-focused investment. We expect a wave of patient, impact-oriented capital to flow into Ghana,” Mr Baba said.

For Ghana’s private sector, the proposed changes could materially alter the funding landscape, particularly for growth-stage firms seeking long-term capital rather than short-tenor bank financing.

While Africa’s SME financing gap is estimated at $331 billion, Mr Baba pointed to another structural constraint: limited visibility of investable opportunities.

“Many investors are also complaining that they cannot find bankable deals,” he observed.

To address this, GIPC is developing the InvestGhana Portal, a digital investment facilitation platform anchored on its ongoing Investment Opportunity Mapping Project (IOMP). The platform is designed to create a structured pipeline of vetted opportunities while offering end-to-end support to investors.

A central feature will be a Marketplace for Service Providers, a curated network of Ghanaian legal advisers, tax consultants, accountants and transaction specialists intended to reduce execution risk and accelerate deal closure.

“This is what we call full-cycle facilitation. It is not enough to show the opportunity. We must also connect investors to the right Ghanaian professionals who can structure, de-risk, and close those deals,” he explained.

For investors, the initiative signals a shift from passive promotion to transaction-oriented facilitation, a model increasingly adopted by competitive emerging markets.

As part of its broader capital mobilisation strategy, GIPC will host the Ghana International Investment Summit (GIIS) later this year. The event is positioned as a structured matchmaking forum linking investors with SMEs across all 16 regions.

“This will be Ghana’s premier platform for investors to meet real SME opportunities, not just in Accra, but from across all 16 regions,” Mr Baba said.

The summit is expected to focus on scalable enterprises capable of leveraging AfCFTA’s single market, with emphasis on regional value chains and export-oriented growth.

With AfCFTA providing access to a continental market of 1.3 billion people, GIPC’s strategy is to position Ghana as both an investment gateway and an SME launchpad.

“AfCFTA provides the market. Ghana provides the launchpad. These reforms give us the tools. The next frontier is connecting the right capital to the right entrepreneurs. Ghana is ready to lead that charge.”

If enacted, the proposed legal amendments, combined with digital deal origination infrastructure could significantly improve capital access for Ghana’s SMEs and strengthen the country’s competitiveness within Africa’s evolving investment landscape.