There is no generally applicable foreign direct investment review regime in relation to mergers, in Ghana. Foreign direct investment in relation to mergers, is reviewed in each sector, with merger control regulation in the same manner as all other mergers which do not involve foreign direct investment. Mergers are regulated in each sector by the following regulators:
| SECTOR | REGULATOR |
| Banking | Bank of Ghana |
| Insurance | National Insurance Commission |
| Telecommunications | National Communications Authority |
| Mining | Minister of Lands and Natural Resources and the Minerals Commission |
| Energy | Petroleum Commission and the Minister for Energy |
| Capital Markets/ Securities Industry (in relation to publicly listed companies) | Securities and Exchange Commission |
Local counsel are not aware of any cross-border mergers that have been notified in Ghana. Typically, mergers involving foreign direct investment notified to regulators involve locally registered companies, one or all of which has foreign participation.
Yes. There is a foreign direct investment regime in Ghana which generally applies to all sectors except portfolio investments and enterprises set up solely for export trading and manufacturing.
The Ghana Investment Promotion Centre (“GIPC”) Act, 2013 (Act 865) forms the primary legislative framework that regulates foreign investment in Ghana. Foreign investors are required to satisfy the provisions of the GIPC Act as well as the provisions of sector-specific laws.