Ghana secured $316 million in Foreign Direct Investment (FDI) during the first three quarters of 2024, reaffirming its position as a leading investment destination in the sub-region. This was revealed in the Ghana Investment Promotion Centre’s (GIPC) Third Quarter Report, which also highlighted the registration of 108 projects with a total estimated investment value of $325.88 million. Local investment contributed $9.88 million of this figure, reflecting a balance of strong foreign interest and domestic participation.
Out of the 108 projects, 85 were wholly foreign-owned, representing 78.7% of the total and accounting for $303.49 million in investments. The remaining 23 projects were joint ventures between Ghanaian and foreign entities, making up 21.3% of the total, with an investment value of $22.39 million. Initial capital transfers into the country during the period amounted to $22.1 million, signaling significant investor confidence in Ghana’s economic environment.
The manufacturing sector emerged as the top recipient of FDI, securing 55 projects and $190.7 million in investments. This underscores its critical role in Ghana’s industrialization and job creation agenda. The liaison sector followed with $76.3 million in FDI, while the general trade sector recorded $21 million in investments, further diversifying the country’s economic growth.
The sectoral breakdown of the 108 registered projects showed a strong focus on industry and services. After manufacturing, the services sector attracted 27 projects, while general trade accounted for 11 projects. Other sectors included export trade with seven projects, agriculture with three projects, tourism with two projects, and building and construction with two projects. Liaison services rounded out the list with one project.
The robust inflows into Ghana’s manufacturing sector reflect the country’s strategic focus on industrialization and economic diversification. This growth trajectory highlights the government’s commitment to fostering sustainable development and creating a favorable environment for global investors. With a stable business climate and targeted policy initiatives, Ghana continues to position itself as a prime destination for foreign investment.
