Ghana Attracts $316 Million in FDI Inflows From Q1 to Q3 2024
Ghana recorded Foreign Direct Investment (FDI) inflows totaling $316 million during the three quarters of 2024, further cementing its status as a leading investment hub in West Africa.
According to the Ghana Investment Promotion Centre (GIPC) Third Quarter Report, 108 projects were registered within the period, with an overall estimated investment value of $325.88 million.
Of this, the local investment component accounted for $9.88 million, underscoring significant foreign interest alongside domestic participation.
Project Breakdown
Out of the 108 projects registered, 85 were wholly foreign-owned, representing 78.7% of the total and valued at $303.49 million.
The remaining 23 projects (21.3%) were joint ventures between Ghanaian and foreign entities, with an estimated investment worth $22.39 million.
Initial capital transfers for these projects amounted to $22.1 million, reflecting robust investor confidence in Ghana’s economy.
Manufacturing Leads Investment Inflows
The manufacturing sector emerged as the leading beneficiary of FDI inflows, attracting $190.7 million across 55 projects.
This sector’s dominance underscores Ghana’s ongoing industrialization efforts aimed at bolstering economic growth and job creation.
The liaison services sector followed with $76.3 million in investments, while the general trade sector secured $21 million.
Sectoral Highlights
The 108 projects registered during the period spanned various sectors:
- Manufacturing: 55 projects
- Services: 27 projects
- General Trade: 11 projects
- Export Trade: 7 projects
- Agriculture: 3 projects
- Tourism: 2 projects
- Building and Construction: 2 projects
- Liaison Services: 1 project
Strategic Focus on Industry and Services
The strong performance of the manufacturing and services sectors reflects Ghana’s strategic focus on industrialization and creating a business-friendly environment.
The inflows into these sectors are expected to enhance job creation, support economic diversification, and bolster the nation’s industrial base.
With sustained investor confidence, Ghana is poised to maintain its position as a prime investment destination in the region.
