The Chief Executive Officer(CEO) of the Ghana Investment Promotion Authority (GIPA), Simon Madjie, has called for a more strategic approach to mobilising domestic and regional capital to finance Africa’s oil and gas industry and broader industrial development.
Speaking at the AOW Energy 2026 Conference in Accra, Mr Madjie said African countries must explore innovative ways of directing local sources of capital, including pension funds and diaspora remittances, into productive long-term investments.
He noted that Africans in the diaspora send billions of dollars to the continent every year, but a significant portion of the funds is not channelled into structured investments capable of driving industrialisation and sustainable economic growth.
Mr Madjie also advocated greater regional specialisation within Africa’s oil and gas value chain, urging countries to identify areas in which they could develop competitive expertise while strengthening cooperation and investment across the continent.
On Ghana’s investment climate, he highlighted reforms introduced under the GIPA Act, 2026 (Act 1173), including the removal of the blanket minimum capital requirement for foreign investors.
According to him, the reforms are intended to make Ghana a more competitive and investor-friendly destination while creating opportunities for increased investment across strategic sectors of the economy.
Mr Madjie stressed the need for African countries to build stronger financial and industrial systems that can retain more capital within the continent and support the development of local capacity across the energy and broader industrial value chains.
