"Ghana Attracts $179 Million in Foreign Direct Investments for H1 2024"

" Ghana Attracts $179 Million in Foreign Direct Investments for H1 2024 \r\n\r\nGhana attracted foreign direct investments (FDIs) amounting to $179.07 million in the first half of 2024, according to the Ghana Investment Promotion Center\u2019s (GIPC) Second Quarter 2024 Investment Report.\r\n\r\nThe total investment includes a local investment component of $7.09 million and initial transfer inflows of $17.73 million, underscoring significant international and local investor interest in Ghana\u2019s economy.\r\n\r\nThe report reveals that these investments, spanning various sectors, are projected to create approximately 8,524 jobs when fully operational.\r\n\r\nThe sectors targeted for these investments include Agriculture, Building and Construction, Export and General Trade, Liaison, Manufacturing, Service, and Tourism, with a total of 69 projects registered within the period.\r\n Project Breakdown by Ownership and Sector \r\nOut of the 69 projects, 53 were wholly foreign-owned, representing 76.8% of the total projects and a combined estimated investment value of $177.79 million.\r\n\r\nMeanwhile, the remaining 16 projects were joint ventures between Ghanaian and foreign investors, accounting for 23.2% of the projects with an estimated investment value of $8.37 million.\r\n\r\nThe manufacturing sector is led by 29 projects, reflecting the country\u2019s industrial growth potential. This was followed by the Services sector with 19 projects, General Trading with 11, and Building and Construction and Export Trade each registering three projects. The tourism sector saw two projects, while the agriculture and liaison sectors recorded one project.\r\n Sector Performance and FDI Leaders \r\nAmong all sectors, Liaison registered the highest FDI value at $76.3 million, followed by Manufacturing with $62.16 million, and General Trading at $20.99 million. These sectors continue to be strategic areas for FDI due to their economic impact and growth potential.\r\n Second Quarter Performance \r\nFor the second quarter alone, the GIPC recorded 37 projects, with an estimated investment cost of $58.03 million. This quarter\u2019s investments included an FDI component of $56.02 million and a local component of $2.01 million, with initial transfers totaling $8.06 million.\r\n\r\nThe data further indicates that 78.4% of the 37 projects were wholly foreign-owned, with a combined estimated investment of $54.45 million. The remaining eight projects were joint ventures, valued at $3.58 million, representing 21.6% of the total projects in the quarter.\r\n\r\nThe latest figures from the GIPC highlight sustained investor confidence in Ghana\u2019s economic environment, buoyed by its diverse sectoral investment landscape."

"Ghana Attracts $179 Million in Foreign Direct Investments for H1 2024"

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