China emerged as Ghana’s leading source of investment in the first half of 2024, according to the Ghana Investment and Promotion Center’s (GIPC) Investment Report for the period. The Asian nation accounted for the highest number of registered projects, totaling 26. However, Spain topped the charts in terms of Foreign Direct Investment (FDI) value, contributing US$76.41 million.
In total, Ghana registered 69 projects between January and June 2024. Of these, 53 projects, or 76.8%, were fully foreign-owned, with a combined estimated investment of US$177.79 million. The remaining 16 projects, representing 23.2%, were joint ventures between Ghanaians and foreign investors, with a total investment value of US$8.37 million.
During the same period, 17 companies infused an additional US$28.14 million in equity. Overall, Ghana secured US$179.07 million in FDIs during the first half of 2024. This comprised an FDI component of US$179.07 million and a local investment component of US$7.09 million. Initial capital transfers amounted to US$17.73 million. These investments are projected to create 8,524 jobs across sectors including agriculture, manufacturing, services, construction, tourism, export trade, and general trade.
The manufacturing sector stood out, registering the highest number of projects at 29. This was followed by services with 19 projects, and general trade with 11. The export trade and building and construction sectors recorded three projects each, while tourism registered two. Liaison and agriculture sectors each recorded one project.
In terms of FDI value, the liaison sector attracted the highest investment with US$76.30 million, followed by manufacturing with US$62.16 million, and general trade with US$20.99 million.
Source: TheDotNews.