Ghana Moves to Overhaul FDI Data System with Push for Unified, Transparent Framework

By Ikenna Omeje

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has advocated a major reform in the country’s foreign direct investment (FDI) data management, urging a transition from fragmented systems to a more coordinated, data-driven structure.

Madjie made the call during a technical meeting with Maja Gavrilovic of the International Monetary Fund (IMF) and officials from the Bank of Ghana, where he highlighted persistent gaps in Ghana’s FDI records despite mandatory registration with the GIPC. He attributed these shortcomings to limited data exchange among key institutions.

According to him, establishing a permanent inter-agency framework is essential to ensure timely and standardised sharing of critical investment data, including equity inflows, reinvested earnings, capital imports, and company registrations. Such a system, he noted, would provide a more accurate picture of actual investment flows into the country.

Madjie also commended the Bank of Ghana for its willingness to collaborate and reaffirmed the GIPC’s commitment to building a transparent FDI data system aligned with international standards.

On her part, IMF representative Maja Gavrilovic stressed the importance of reliable FDI data in evaluating Ghana’s International Investment Position (IIP) and the resilience of its external sector. She called for the integration of GIPC’s database with that of the Bank of Ghana and other relevant institutions to enhance data quality and support effective policymaking.