Ghana Will Get a Start-up Bill Soon –  Says Sheriff Ghali

Sheriff Ghali (left) speaking at the Ghana Innovation and Start-up Bill stakeholders engagement in Ho, Volta Region of Ghana

By Desmond Tinana

The Ghana Innovation and Start-ups Act project is a joint initiative between the private sector and the government aimed at enhancing the startup ecosystem through co-created legislation. The bill, once passed, will establish a supportive environment for the growth of innovative enterprises, attract investment, and provide frameworks to support entrepreneurial ventures across Ghana.

The CEO of the Ghana Chamber of Young Entrepreneurs (GCYE) and Co-Chairperson of the Technical Working Committee working on the Ghana Innovation and Start-up Bill, Sheriff Ghali, has expressed confidence that the country will soon have a start-up Act. Mr. Ghali who was speaking during a stakeholder engagement dialogue held in the Volta Region on Wednesday, November 21, 2024, stated that he is “over 120% sure” that the bill will be passed into law in the near future.

He however, emphasized that while he is optimistic about the passage of the bill, he could not specify how long the process would take, as “parliament may drag on it.” He referenced the Affirmative Action Bill, which took nearly ten years to pass, and acknowledged that some legislative processes may be delayed due to extended discussions. Despite this, Ghali remains confident that the Ghana Start-up Bill is unlikely to face such delays, as it aligns closely with the African Union’s model law on start-ups. He explained that, “AU did their model law. It’s not any different from the start-up bill. So, if even AU is saying that Ghana, as a member state, should adopt the start-up law, and it’s no way different from the draft that we have done, we hope it wouldn’t take long.”

To ensure the proposed bill aligns with the needs of the start-up ecosystem, the GCYE has launched a series of stakeholder engagement dialogues across five regions of Ghana, including Greater Accra, Ashanti, Bono, and Volta. These dialogues, which commenced last month in the Ashanti Region, are designed to gather input from both the private and public sectors to strengthen and refine the provisions of the bill. The aim is to create a comprehensive framework for startups grounded in the practical needs of young entrepreneurs.

“The success of the Ghana Innovation and Start-ups Bill depends on how well it reflects the aspirations and practical needs of the startup ecosystem. By engaging stakeholders directly, we ensure that the bill’s provisions are comprehensive and grounded in the real experiences of young Ghanaian entrepreneurs,” said Ghali, highlighting the importance of these conversations in shaping the future of the law.

The GCYE is committed to amplifying the voices of young entrepreneurs, ensuring that their needs are represented in the policy-making process. As the dialogues progress, more feedback will be gathered from diverse sectors, creating a platform for collaboration between government bodies, private enterprises, and start-up founders.

At the Volta Region dialogue in Ho the Volta Regional Capital, Sheriff Ghali emphasized the importance of preparing for the implementation phase of the Ghana Innovation and Start-up Bill once it is passed into law. He pointed out that passing the bill is only the first step, and attention must now be focused on how to effectively implement its provisions. He highlighted the need to address the practical aspects of the law, including how tax waivers for startups would be administered and the mechanisms for measuring their impact.

In his words “Every provision of the bill should be picked by the ecosystem or the actors themselves,”. He underscored the need for stakeholders to begin thinking about how the provisions of the bill will be implemented, from the creation of support programs to managing funding mechanisms. He cited the example of Nigeria, which passed a similar bill but struggled with implementation, stressing the importance of preparing for the operationalization of the law.

“We should be talking about implementation now. If you want to provide startup support, employment support to startups, how is it going to be done?” Ghali asked, urging stakeholders to think ahead to avoid potential pitfalls.

The stakeholder dialogues have continued to gather momentum across Ghana. In the Ashanti Region, where the series began, the engagement saw participation from a wide range of stakeholders, including government ministries, departments, agencies, and local authorities. Young entrepreneurs from various sectors also attended, demonstrating broad support for the proposed legislation.

As the dialogues spread across the remaining regions, the GCYE is calling for more involvement from all sectors of the economy. The consultations are seen as essential to ensure the bill reflects the needs of the ecosystem and attracts necessary support from both public and private sectors. With several regional dialogues still scheduled, more feedback is expected to refine the bill further.

The Ghana Innovation and Start-up Bill is poised to have a significant impact on the country’s entrepreneurial landscape. The bill is designed not only to provide a legal foundation for the growth of startups but also to create an ecosystem that nurtures innovation, entrepreneurship, and investment. It is a collaborative effort that has seen input from both the private and public sectors, with stakeholders working together to ensure the law provides a sustainable framework for business growth.

Sheriff Ghali emphasized that the bill is an economic move rather than a political one. “It is an economic decision, it’s not political,” he said, arguing that the passage of the law is crucial for positioning Ghana as a leader in the fourth industrial revolution. He believes that the success of the bill will be determined by how well it is implemented, with the role of stakeholders being pivotal in this process.

As the bill nears its final stages of development, there is a strong sense of optimism that Ghana is on the verge of a significant legislative breakthrough. The success of the Ghana Innovation and Start-up Bill will depend on continued collaboration and commitment from all sectors. As the dialogues continue, there is hope that Ghana will soon have a law that supports innovation, business growth, and the development of a new generation of entrepreneurs ready to contribute to the country’s economic transformation.

With ongoing stakeholder dialogues and the collaborative efforts of various actors, Ghana is poised to pass a start-up law that could significantly reshape its entrepreneurial landscape.