GIPC, World Bank to establish Investor Grievance Mechanism

The Ghana Investment Promotion Centre (GIPC) is collaborating with the World Bank to develop an Investor Grievance Mechanism (IGM) for the early detection of challenges and dispute redress.

Mr. Edward Ashong-Lartey, GIPC’s Director of Investor Services disclosed this at the second edition of its Ministries Department Agencies (MDA) – Investor Forum.

The event sought to advance deliberations on how to improve the relationship between state institutions and businesses within the country.

This was in recognition of the impact of MDAs/Metropolitan, Municipal, and District Assemblies (MMDAs) on the investment infrastructure landscape, particularly the streamlining of permits and licenses, the provision of infrastructure and utilities, and the support of local economic development.

Mr Ashong-Lartey said the MDA would have a vital role to play in the IGM and so must work collectively to eliminate bureaucratic bottlenecks to help investors “transform risks into opportunities”.

GIPC’s Head of Aftercare, Ms. Victoria Cobbah said MDAs/MMDAs could bolster the investment landscape by streamlining regulations, simplifying administrative procedures, and addressing business challenges at the local level.

Ms. Diana Afriyie Addo, the Head of Business Regulatory Reforms at the Ministry of Trade and Industries highlighted ongoing business regulatory reforms in Ghana aimed at improving the overall ease of doing business in the country.

She sensitised the gathering on her outfit’s online platform which gives information on all business regulations and bye-laws.

She also urged investors to leverage the platform, which also allows them to contribute to ongoing deliberations on regulatory reforms.