Business News of Thursday, 1 April 2021Source: www.ghanaweb.comThe Ghana Investment Promotion Centre (GIPC) has stepped up its sensitization efforts on Technology Transfer Agreements (TTAs) to clients and investors. TTA is an agreement entered into by two entities when a foreign firm or enterprise transfers its technology, expertise, or facilities to its Ghanaian counterpart. According to GIPC, businesses that fail to register their TTAs will face sanctions per the GIPC Act 865. Also, the Bank of Ghana will suspend remittances by companies that do not have the relevant TTA registration and certification after the review of the GIPC law. “In the review of the GIPC Act, we have proposed that the sanctions should be significantly increased,” she added.

Source: GhanaWeb April 01, 2021 14:15 UTC