GIPC to get new regulation soon

By Fred Sarpong

The Ghana Investment Promotion Centre (GIPC) will get it new regulation after Parliament has passed it into an act. This is after Cabinet gave finally approval to the GIPC revise regulation, after so many years it has been in the seat of Government.

When passed into law by Parliament, it will seek to enhance and better help with the regulation of investments in the country.

The regulation went through Attorney General’s department for legality review before Cabinet approves it.

Business Analyse learnt that the new regulation will empower Ghanaian entrepreneurs to be able to have larger share and ownership of the economy and also encouraging businesses from abroad to feel comfortable in doing business in the country.

However, the proposed regulations want joint-venture investment capital increased from US$10,000 to not less than US$250,000 while investment capital for a firm 100% foreign-owned would be increased from US$50,000 to US$500,000.

It also stipulates that investors in trading will now be required to bring in not less than US$1,000,000, as against the previous amount of US$300,000 and are required to employ at least 20 Ghanaians, double the minimum of 10 stipulated under the old law, while 25% of products content must originate from Ghana.

The revised Act is also intended to make it mandatory for foreign manufacturing firms, operating or coming into the country, to source at least 40% of their supplies locally.

The expected new GIPC regulation, GIPC Act 2008, will replace the GIPC 1994 Law (Act 478), which regulates investment activities in Ghana.

Comments

Shortage of weighing cards hit major hospitals in Accra

By: Fred Yaw Sarpong- Daily Express There is scarcity of Child Health Records Book (weighing cards), in some major public hospitals in the capital, information reaching the Daily Express indicates. Checks by this paper revealed that while some of the hospitals have being encountering the shortage for about a year now, others started experiencing it six months ago. In place of the Child Health Record Book (weighing card), the nursing mothers are given a single card on which information of children are recorded on it. Those hospitals identified are the Korle Bu Teaching Hospital, Korle Bu Polyclinic, Kaneshie Polyclinic, Adabraka Polyclinic and the Ridge Hospital. At the Korle Bu Teaching Hospital, the nursing mothers are given yellow cards in place of the weighing cards. The Public Relations Secretariat at the Korle Bu Teaching Hospital said such information has not come to their notice and for that matter they cannot comment on it. “We do not have some

ABL launches chibuku super in Bolgatanga

By: Fred Yaw Sarpong sarpong007@gmail.com Accra Brewery Limited (ABL) has officially launched the Chibuku Super drink at Bolgatanga in the Upper East region with the aim of reaching a lot of customers. Mr. Thomas Nii Ponku, Supervisor in charge of Chibuku Super at ABL told Daily Express that the management decided to launch the Chibuku Super drink in the Upper East region because they’ve realized it is similar to a traditional drink in the region. “Chibuku is like a well developed pito, a traditional drink made from fermented millet or sorghum in the Northern part of Ghana. So the idea is to provide them with similar drink,” he added. Mr. Nii Ponku disclosed this when members of the Institute of Finance and Economic Journalists (IFEJ) toured the facility of ABL to acquaint themselves with the expansion project at the factory. He mentioned that after a feasibility study, they realized there is a potential market for the product in the northern part of Ghana

90 African Journalists entertain by Disney Africa

By: Fred Yaw Sarpong- Daily Express Mauritius Disney Africa welcomed 90 journalists from across Africa to their first ever showcase to media from the continent, at this year’s Multichoice Africa Content Showcase Extravaganza. On Thursday 3 September, guests received a Disney Movie ticket which gained them entry to the special outdoor screening, set under the stars on the lawns of the idyllic Outrigger Beach Resort in Mauritius . After receiving their own Disney picnic basket and blankets, full of delicious treats and filling food, the guests made their way to the seating area, replete with comfortable chairs and loungers. Once the Disney fans were settled, the vast outdoor screen lit up and the evening’s festivities were well under way. A welcome speech by Deirdre King, Head of Marketing for the Walt Disney Company Africa, preceded the screening of two animated shorts. The first, the Academy Award-nominated Get a Horse, featured Disney favourites like Mickey, Minni

SARPONG'S BLOG

Search This Blog