Ghana bagged $179.07m from FDIs in first-half of 2024
Ghana bagged US$179.07 million from Foreign Direct Investments (FDIs) in the first half of 2024.
According to the Ghana Investment Promotion Center (GIPC) Second Quarter 2024 Investment Report, this comprised FDI component of US$179.07 million and local component of US$ 7.09 million. Total initial transfers amounted to US$ 17.73 million.
These investments are expected to generate 8,524 jobs once fully operational, targeting sectors such as Agriculture, Building and Construction, Export and General Trade, Liaison, Manufacturing, Service, and Tourism.
Sixty-nine projects were registered during the period.
Of the 69 projects registered, 53 were wholly foreign owned, representing 76.8% of the number of projects with a total estimated investment cost amount of US$177.79 million.
The Joint Venture projects between Ghanaians and their foreign counterparts were 16, representing 23.2% of the number of projects and with a total estimated investment cost amount of US$ 8.37 million.
Manufacturing sector recorded highest number of projects
Out of the 69 projects registered in the first half year of 2024, the manufacturing sector recorded the highest number with 29 projects.
This was followed by services (19), general trading (11), export trade and building and construction recorded (3) projects each, tourism recorded (2) projects and liaison and agriculture recorded (1) project each.
Liaison recorded the highest FDI with US$76.30 million followed by manufacturing with US$62.16 million, and General Trading sector with US$20.99 million.
37 projects recorded in second quarter of 2024
Meanwhile, the GIPC recorded 37 projects in the second quarter of 2024, with total estimated investment cost of US$ 58.03 million.
This comprised FDI component of US$56.02 million and local component of US 2.01 million. Total initial transfers amounted to US$ 8.06 million.
Of the 37 projects registered, 29 were wholly foreign owned, representing 78.4% of the number of projects with a total estimated investment cost amount of US$54.45 million. The Joint Venture projects between Ghanaians and their foreign counterparts were eight, representing 21.6% of the number of projects and with a total estimated investment cost amount of US$ 3.58 million.