The People’s National Party (PNP) has issued a statement “boldly and unequivocally” commending President John Dramani Mahama’s administration for its decision to review the Ghana Investment Promotion Centre (GIPC) Act, 2013 (Act 865).
PNP in its statement described the move as a “courageous and forward-thinking step” aimed at attracting foreign investment and breaking the grip of local monopolies.
The statement was issued and signed by the chairperson.Madam Janet Nabla opined that the current legislation, which mandates high minimum capital requirements for foreign-owned enterprises, has for too long “served to protect monopolies rather than empower the ordinary Ghanaian.”
According to her, the Ghanaian market has become a “playground for a privileged few—local business cartels that have restricted competition.”
“The truth is, these markups are not only unjustifiable—they are exploitative,” the party declared.
She noted that the PNP sees President Mahama’s move as a “powerful declaration that the markets of Ghana do not belong to a select few, but to every Ghanaian and every investor ready to play fair.”
In the view of the PNP, the policy is not anti-Ghanaian but rather a “pro-consumer policy” and a “pro-poor decision”.
The PNP added, “The entry of responsible foreign investors will not destroy Ghanaian businesses; it will challenge them to rise, to innovate, and to compete.”
By: Rainbowradioonline.com/Ghana