China Emerges Ghana’s Top Investor for First Half of 2024
Spain, for the first half of this year, emerged as the topmost investor in Ghana’s economy.
Per the Ghana Investment Promotion Center’s (GIPC) Second Quarter 2024 Investment Report, some $76.4 million in foreign direct investment (FDI) value was attracted into the country by Spanish investors.
Following Spain as the next biggest investor in the country was China, with an FDI value of $36.1 million.
Meanwhile, China, with 26 registered projects, emerged as the leading source of investments for Ghana for the first half of 2024.
Countries such as the US, UK, and India, each recorded 5 registered projects in the country within the period under review.
According to the GIPC Second Quarter 2024 Investment Report, Ghana attracted a total foreign direct investment value of $179.07 million for the first half of 2024.
The 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’s economy.
The report reveals that these investments, spanning various sectors, are projected to create approximately 8,524 jobs when fully operational.
The 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.
Out of the 69 projects, 53 were wholly foreign-owned, representing 76.8% of the total projects.
Meanwhile, 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.
