Ghana successfully attracted Foreign Direct Investment (FDI) totaling US$316 million during the first three quarters of 2024, further establishing its status as a leading investment hub in the sub-region.
This information was presented in the Third Quarter Report by the Ghana Investment Promotion Centre (GIPC), which indicated the registration of 108 projects during this timeframe, with a combined estimated investment of US$325.88 million.
Of this total, local investments accounted for US$9.88 million, highlighting a significant level of foreign interest alongside domestic contributions.
Among the 108 registered projects, 85 were entirely foreign-owned, making up 78.7% of the total, with a cumulative estimated investment of US$303.49 million.
Joint ventures between Ghanaian and foreign firms comprised 23 projects, or 21.3% of the total, with an estimated investment of US$22.39 million.
Initial capital inflows into the country during this period reached US$22.1 million, indicating strong investor confidence.
The manufacturing sector emerged as the leading recipient of foreign investments, attracting the highest number of projects and the largest FDI inflow.
It secured 55 projects and garnered an FDI value of US$190.7 million, reinforcing its critical role in Ghana’s industrial advancement.
The liaison sector followed with FDI inflows of US$76.3 million, while the general trade sector attracted US$21 million in investments.
The distribution of the 108 projects underscores a significant emphasis on industry and services.
Following manufacturing with 55 projects, the services sector obtained 27 projects, while general trade accounted for 11 projects, export trade for 7 projects, agriculture for 3 projects, tourism for 2 projects, and building and construction for 2 projects. Liaison services completed the list with one project.
The substantial inflows into Ghana’s manufacturing sector reflect the nation’s strategic commitment to industrialization and job creation.
