GIPC seeking government funding after revenue sources dry up – Bright Simons alleges

IMANI Africa's Vice President, Bright Simons, has raised concerns over the Ghana Investment Promotion Center's (GIPC) push for taxpayer funding after its traditional revenue streams dried up.

Despite previously generating substantial income from fees for services like technology transfer approvals and investment registration, GIPC reported zero income in the second quarter of 2024.

Simons questioned why GIPC's revenue has plummeted despite a reported 16% increase in inbound investment in early 2024, suggesting that investors may be skeptical of paying for services that offer little value.