GIPC warns SMEs against ‘dubious’ business development and funding program

May 23, 2023 / Comments (0)

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The Ghana Investment Promotion Centre (GIPC) has issued a strong cautionary statement to the public regarding a fraudulent funding program targeting small and medium-scale businesses.

The warning comes as a response to a circulating Google Docx file on social media, falsely claiming to be associated with the GIPC, the Ministry of Finance, and the African Development Bank.

The program, titled “Business Development and Funding Program for SMEs,” promises financial support to interested businesses upon submission of key company details.

However, the GIPC has firmly stated that it has not sanctioned nor initiated any such program for fund distribution under this name.

In an official statement, the GIPC clarified that all their legitimate programs aimed at supporting and incentivizing businesses, such as the Youth Entrepreneurship Program and Ghana Club 100, will always be communicated through the Centre’s official channels, including their website ( and verified social media accounts.

The Centre urged the general public to exercise caution and disregard the false notice circulating on social media.

It emphasized the importance of relying only on the GIPC’s official channels for accurate information and announcements regarding their initiatives.

The GIPC reiterated its commitment to promoting and facilitating genuine investment in Ghana and assured the public that they would continue their efforts to support businesses and foster entrepreneurship in the country.


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