Ghana attracted $316 million in Foreign Direct Investment (FDI) during the first three quarters of 2024, reaffirming its position as a leading investment destination in the region, according to the Ghana Investment Promotion Centre (GIPC) Third Quarter Report.
The report detailed the registration of 108 projects with an estimated total investment of $325.88 million, demonstrating a balanced mix of foreign and local participation. While foreign investors contributed the majority, with $303.49 million, local investments accounted for $9.88 million, reflecting growing domestic involvement in strategic partnerships.
Breakdown of Investments and Key Sectors
- Wholly Foreign-Owned Projects: 85 projects (78.7% of total) valued at $303.49 million.
- Joint Ventures: 23 projects (21.3% of total) valued at $22.39 million.
- Initial Capital Transfers: Reached $22.1 million, signaling strong investor confidence.
The manufacturing sector led the charge, registering 55 projects and securing $190.7 million in FDI, underscoring its pivotal role in Ghana’s industrialization agenda. This sector remains a cornerstone for job creation and economic growth, aligning with Ghana’s broader development goals.
The liaison sector followed with $76.3 million in FDI, while general trade attracted $21 million.
Sectoral Distribution of Projects
- Manufacturing: 55 projects
- Services: 27 projects
- General Trade: 11 projects
- Export Trade: 7 projects
- Agriculture: 3 projects
- Tourism: 2 projects
- Building & Construction: 2 projects
- Liaison Services: 1 project
Strategic Focus on Industrialization
The surge in FDI inflows into manufacturing aligns with Ghana’s strategy to bolster industrialization, enhance export capacity, and create employment opportunities. This focus is mirrored in the diversity of projects across key sectors, signaling investor confidence in Ghana’s economic stability and policy direction.
With its continued emphasis on attracting high-value investments, Ghana is well-positioned to maintain its status as a regional hub for trade, industry, and services.
