Ghana’s Foreign Direct Investment (FDI) has continued to grow, attracting US$316 million during the first three quarters of 2024. This highlights the country’s increasing attractiveness as an investment destination in the West African sub-region.
According to the Ghana Investment Promotion Centre’s (GIPC) Third Quarter Report, 108 projects were registered in this period, with a total estimated investment of US$325.88 million. Notably, domestic investment contributed US$9.88 million, reflecting the robust foreign interest alongside local participation.
Of the 108 registered projects, 85 were entirely foreign-owned, accounting for 78.7% of the projects and representing a combined investment of US$303.49 million. This reinforces the strong foreign confidence in Ghana’s economic potential.
Joint venture partnerships between Ghanaian and foreign entities accounted for 23 projects, representing 21.3% of the total, with an estimated investment value of US$22.39 million.
During this period, initial capital transfers into the country amounted to US$22.1 million, signaling strong investor confidence.
The manufacturing sector emerged as the top recipient of foreign direct investment (FDI), securing the largest number of projects and the highest FDI inflow. With 55 projects and an FDI value of US$190.7 million, the sector continues to play a pivotal role in driving Ghana’s industrial development.
The liaison sector followed the manufacturing sector with FDI inflows of US$76.3 million, while the general trade sector recorded US$21 million in investments.
The sectoral breakdown of the 108 registered projects emphasizes a strong focus on both industry and services. After the manufacturing sector with 55 projects, the services sector secured 27 projects, followed by general trade with 11 projects, export trade with 7 projects, agriculture with 3 projects, tourism with 2 projects, and building and construction with 2 projects. The liaison services sector completed the list with one project.
The robust FDI inflows into Ghana’s manufacturing sector highlight the country’s strategic focus on industrialization and job creation, underscoring its role as a key driver of economic growth.
