Ghana secured US$179.07 million from Foreign Direct Investments (FDIs) in the first half of 2024, according to the Ghana Investment Promotion Centre (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.
The manufacturing sector recorded the 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 the General Trading sector with US$20.99 million.
Thirty-seven projects were recorded in the second quarter of 2024. Meanwhile, the GIPC recorded 37 projects in the second quarter of 2024, with a total estimated investment cost of US$ 58.03 million. This comprised the FDI component of US$56.02 million and local components of US 2.01 million. Total initial transfers amounted to US$ 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.
