Ghanaian-owned businesses invest $13.49m in projects within first quarter of 2024
In the first quarter of 2024, the Ghana Investment Promotion Centre (GIPC) recorded eight wholly Ghanaian-owned projects, with a combined project value of US$13.49 million.
This is per the GIPC’s Q1 2024 Foreign Direct Investment (FDI) report.
The report noted that these ventures span critical sectors such as building and construction, general trade, manufacturing, and services, reflecting robust local entrepreneurial activity.
The GIPC reported an influx of US$123 million in foreign direct investment (FDI) across 32 registered projects in the first quarter of this year.
Per the Centre, 75% of these projects equating to 24 projects were wholly foreign-owned, underscoring the sustained confidence of international investors in Ghana’s economic landscape.
The manufacturing sector emerged as the leading recipient, with 12 projects, followed by the services sector with nine (9).
General trading accounted for four (4) projects, while export trading and building and construction each secured two (2) projects. The tourism, liaison, and agriculture sectors each recorded one project.
The liaison sector attracted the highest FDI value, amounting to US$76.30 million, reflecting its strategic importance.
The manufacturing sector followed with US$31.69 million, underscoring its role as a cornerstone for economic development.
According to the GIPC, these investments – both local and foreign – are anticipated to generate approximately 3,602 jobs.
This projected increase in employment underscores the critical role of investment in bolstering Ghana’s labor market and stimulating broader economic development.
The GIPC’s Q1 2024 report highlights the dynamism within Ghana’s investment climate, driven by both indigenous and foreign enterprises.
As the country continues to attract substantial FDI, it positions itself as a burgeoning hub for business and industry in West Africa, fostering an environment conducive to sustainable economic progress.
