Ghana: FDI Inflows Hit $378m in Q3 2025 as Manufacturing Leads Investment Drive
Foreign direct investment (FDI) into Ghana rose sharply to US$378 million in the third quarter of 2025, with the manufacturing sector cementing its position as the country’s leading investment destination, according to new data from the Ghana Investment Promotion Centre (GIPC).
The report shows that nearly all new capital commitments—totalling US$377.63 million—originated from foreign investors, while domestic investors contributed just US$2.62 million. Initial capital transfers amounted to US$13.06 million for the period, underscoring the country’s continued reliance on foreign capital for large-scale project execution.
A total of 53 investment projects were registered in Q3. Of these, 41 projects (77.36%) were wholly foreign-owned, valued at US$371.18 million. The remaining 12 projects (22.64%) were joint ventures with a combined investment value of US$6.45 million.
Manufacturing dominated the quarter’s investment activity, accounting for 34 of the 53 projects—far ahead of services (11), agriculture (3), and other sectors such as general trade, export trade, building and construction, and tourism.
“Manufacturing continues to dominate the FDI landscape, not just in project numbers but also in investment value, drawing more than ten times the next highest sector,” a GIPC spokesperson said. General trade followed with US$21 million in commitments, while export trade attracted US$12 million.
Regionally, the Greater Accra Region remained the primary beneficiary of new investments, securing 41 of the registered projects and reinforcing its role as the country’s industrial and commercial centre. Other regions—including Western, Ashanti, Bono East, Eastern and Savannah—recorded minimal investment activity, signalling persistent regional imbalances in capital distribution.
Economic analysts say the third-quarter figures reflect three key structural trends: Ghana’s sustained dependence on foreign capital, the growing strategic role of manufacturing in the investment landscape, and the comparatively weak participation of domestic investors despite ongoing macroeconomic stabilisation efforts.
