Ghana is the best destination for investment despite economic challenges – Veep
The Vice President, Dr. Mahamudu Bawumia, has indicated that Ghana remains the most favourable investment destination in the West African Sub-region despite the existing economic challenges.
According to him, the Ghanaian economy would be stabilized in no time with the aid of the $3 billion support received from the International Monetary Fund (IMF).
Dr. Bawumia expressed confidence in the economy reiterating that investors who choose to invest in Ghana will not regret their decision.
He made these comments when addressing participants at the Ghana Investment Summit in the UK, outlining the strengths of Ghana as an investment hub.
Dr. Bawumia identified the country’s stable political environment, adherence to the rule of law, and educated and literate population as key factors that make Ghana an attractive destination for investment.
“We have a stable political environment, rule of law, an educated population, and a dynamic youthful population which is very literate. In the area of investments, it is one of West Africa’s investments bright spots and the number one destination for doing business over the last decade,” Dr. Bawumia said.
However, a mission staff from the IMF is scheduled to arrive in Ghana on June 7 to assess the progress of Ghana’s Economic Recovery Programme.
This visit marks the first assessment by the IMF following the approval of Ghana’s $3 billion bailout on May 17.
Per the approved arrangement, an initial disbursement of $600 million was made in May 2023.
Subsequent disbursements are expected to occur every six months based on program evaluations conducted by the IMF Executive Board.