Legal Framework
From The Report: Ghana 2018
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In conjunction with AB & David Africa, this chapter contains an overview of the legal framework in which local and foreign investors operate in Ghana, covering an overview of the regulations governing different sectors, the rules for investment and expatriate employment and recently introduced legislation on trade and financial services.

This chapter contains a viewpoint from David Ofosu-Dorte, Senior Partner, AB & David.

Articles from this Chapter

Overview

Law of the land: A detailed explanation of the country’s legal framework
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Ghana’s legal system is premised on English Common Law. The laws of the country comprise: the constitution; statutes enacted by Parliament; orders, rules and regulations made by any person or authority under a power conferred by the constitution; the existing law; and the common law, which is made up of the rules of law generally known as doctrines of equity and the rules of customary law, such as rules of law which by custom are applicable to particular communities in Ghana, including…

Analysis

Down to business: Recent legislation provides an improved regulatory framework for industries, international trade and financial services
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Banks & Specialised Deposit-Taking Institutions Act 2016 (Act 930) This legislation applies to banks, specialised deposit-taking institutions, financial holding companies and their affiliates. The Bank of Ghana (BoG) has overall supervisory and regulatory authority over all deposit-taking business in Ghana, and requires deposit-taking businesses to obtain a licence. The act stipulates what activities may be undertaken, and restricts banks or specialised deposit-taking institutions from…

Viewpoint

In safe hands: David Ofosu-Dorte, Senior Partner, AB & David, on protections offered to depositors and mechanisms for financial stability
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Viewpoint: David Ofosu-Dorte In 2016 Ghana passed two laws which have enhanced the scope of protection afforded to depositors; namely the Banks and Specialised Deposit Taking Institutions Act 2016 (Act 930) – which repealed the Banking Act 2004 – and the Ghana Deposit Protection Act 2016 (Act 931). The laws introduced new mechanisms and features designed to enable the Bank of Ghana (BoG) to provide protection for depositors in a proactive and reactive manner. Key features of the laws include…