The Ghana Investment Promotion Centre (GIPC) has outlined major reforms that will simplify how foreign companies register technology transfer agreements in Ghana, addressing longstanding complaints about bureaucratic complexity that has discouraged international partnerships.
Emmanuel Osei, Head of the Technology Transfer Agreement (TTA) Department at GIPC, described the pending Ghana Investment Promotion Authority (GIPA) Bill 2025 as a significant step toward creating a more responsive regulatory framework during a UK Ghana Chamber of Commerce (UKGCC) webinar on Friday.
The GIPA Bill 2025 is designed to establish a more efficient framework to regulate Technology Transfer Agreements and to promote, facilitate, and regulate technology transfers in Ghana. The bill seeks to replace the GIPC Act 2013, establishing GIPA as the primary agency responsible for encouraging, promoting, and regulating investments nationwide.
Speaking during the webinar titled Technology Transfer Agreements: Updates and Changes, moderated by Theophilus Tawiah, Managing Partner of WTS Nobisfields, Osei outlined current regulatory challenges and explained how the proposed legislation will transform technology transfer administration.
Among the key reforms are efforts to collaborate with banks to ensure that only valid, registered TTAs are used for foreign exchange remittances. Currently, banks are not legally compelled to verify TTA certificates before transfers. The new law will change that by placing direct responsibility on them to authenticate certificates with GIPC before processing payments, Osei explained.
The bill also allows backdating of agreements submitted within 30 days of execution and introduces penalties for late submission. This provision will remove one of the biggest frustrations companies face: the inability to pay accrued fees when services have already been rendered, he noted.
Technology transfer refers to the transfer of industrial property rights, technical support or assistance services, technical know how, or management services between a foreign entity and a Ghanaian company. When an agreement is registered, GIPC can monitor, evaluate, and ensure fees remain within the permissible range while confirming that the local company benefits from the transfer of knowledge, Osei said.
The agreement represents more than a legal formality. It serves as the bridge through which knowledge, innovation, and capital flow into the economy. Yet many businesses still struggle to navigate the complex process of registering their agreements with GIPC.
Addressing this challenge, Osei reaffirmed the Centre’s commitment to simplifying procedures and modernizing its legal framework to attract greater foreign investment. GIPC management has established a new department specifically for technology transfer administration with the goal of expediting the application process, he revealed.
The newly established TTA Department is improving efficiency and reducing approval times from eight weeks to four. We no longer just send letters; we invite applicants for meetings to discuss issues before sending formal feedback, Osei said.
Previously, businesses were required to submit a detailed set of documents including a draft agreement, company certificates, training schedules, fee forecasts, and evidence of industrial property ownership. However, recognizing that some requirements may pose challenges for new companies, GIPC has introduced greater flexibility.
If a company does not have five years of audited accounts, they can submit a feasibility plan instead, Osei remarked. This flexibility acknowledges that startups and newer enterprises may lack extensive financial history while still representing genuine investment opportunities.
Osei urged businesses to pay close attention to the governing law and training clauses in their contracts. A technology transfer agreement must be governed by the laws of Ghana and include a clear provision for training local staff. That is what ensures true knowledge transfer, not just payment of fees, he said.
He cautioned against restrictive clauses such as grant back or exclusivity terms, which are not acceptable under Ghanaian law. These provisions can undermine the developmental goals of technology transfer by limiting local companies’ ability to build independent capacity.
Tawiah, the webinar moderator, emphasized that clarity and consistency in compliance should not be seen as a hurdle but as an enabler of investment confidence. The more transparent our systems are, the easier it becomes for investors to trust the process and for local businesses to benefit, he observed.
The GIPA Bill represents a comprehensive overhaul rather than simple amendments to existing legislation. Previous revision attempts lapsed with Parliament’s dissolution in January 2025, prompting the Attorney General to advise a complete replacement rather than piecemeal changes.
GIPC Chief Executive Officer Simon Madjie has called for active stakeholder participation in shaping the proposed legislation. The bill will establish GIPA as the primary agency responsible for encouraging, promoting, and regulating investments in Ghana, with Madjie stressing that the new legislation must reflect the evolving needs of Ghana’s investment environment.
The bill includes key provisions such as the change of name from Centre to Authority, an expansion of the Authority’s objectives and functions, a revision of the governance structure, and a proposed review of the minimum foreign capital requirements.
Naa Lamle Orleans Lindsay, Director of the Legal Division at GIPC, explained that the bill aims to address persistent challenges including fronting and regulatory inconsistencies. Under the new law, capital requirements for joint ventures and wholly foreign owned companies will be removed, leaving only the requirement for trading companies owned by foreigners.
The GIPA Bill also seeks to align Ghana’s investment laws with international best practices and African Continental Free Trade Area (AfCFTA) commitments. GIPC has initiated extensive stakeholder consultations with public sector representatives, diplomatic community members, and private sector organizations to ensure the legislation reflects diverse perspectives.
The webinar, part of the UKGCC’s Mandatory Regulatory Compliance Series, supports the organization’s broader mission to foster dialogue between the private sector and regulatory bodies. The UKGCC was established in 2016 with support from the United Kingdom’s Department for Business and Trade to promote bilateral commerce.
The chamber is a two time British Chambers of Commerce (BCC) International Chamber of the Year finalist and won the 2023 BCC International Chamber of the Year award, reflecting its role in facilitating UK Ghana business relationships.
Whether the GIPA Bill succeeds in achieving its objectives will become apparent as the legislation moves through Parliament and subsequently gets implemented through regulations, departmental procedures, and actual processing of applications under the new framework.
For now, the reforms signal government recognition that current systems need improvement. The establishment of a dedicated technology transfer administration department and pending comprehensive legislation represent concrete steps toward addressing longstanding frustrations faced by both foreign technology providers and Ghanaian recipients.
As Ghana positions itself as West Africa’s investment destination of choice, the efficiency of technology transfer registration could significantly influence whether international companies choose Ghana over regional alternatives for partnerships that bring both capital and technical knowledge to the local economy.
