Adako-jachie: Transparency International (TI) Ghana has urged the nation to establish and enforce transparent rules to govern foreign investments, especially in strategic sectors and critical infrastructure. Mr. Benedict Doh of TI Ghana emphasized the need for a framework that incorporates effective screening mechanisms, due diligence processes, disclosure requirements, and national security reviews.
According to Ghana News Agency, Mr. Doh pointed out that certain state institutions tasked with attracting foreign capital are hindered by inadequate capacity and resources, which weakens oversight. Presenting research findings at a stakeholder roundtable in Adako-Jachie, he also suggested strengthening democratic institutions and civil society to enhance accountability and participation in foreign investment decisions.
He advocated for improved regional and international cooperation to share best practices, harmonize standards, and promote responsible investment. Additionally, he emphasized the importance of diversifying financing sources to attract market-oriented capital that aligns with local needs.
Mr. Michael Otchere from the Ghana Investment Promotion Centre (GIPC) highlighted existing measures to protect domestic investors, including restrictions on foreign participation in retail trading and employment requirements for Ghanaian workers.
Ms. Mary Awelana Addah, Executive Director of TI Ghana, stressed that addressing governance challenges requires collaboration among civil society, policymakers, regulators, the private sector, and development partners to improve the business climate and build investor confidence.