IFC to Invest $600 Million in Ghana’s Private Sector to Boost Job Creation
The International Finance Corporation (IFC), a member of the World Bank Group, has announced plans to invest approximately $600 million into Ghana’s private sector to spur job creation and enhance economic growth.
The investment will focus primarily on the garment industry and agro-processing sectors, aiming to support industrial development and expand employment opportunities. IFC Country Director, Kyle Kelhofer, disclosed this during a courtesy call on the Majority Leader in Parliament.
“We are here to support the private sector, invest in the private sector, mobilize the private sector—both international and local—and to help create more and better jobs. What you saw last week at the garment factory was an example of Ghana’s increased ability to leverage industrialization to create employment, particularly for women,” Kelhofer stated.
“This isn’t limited to just garments. It can also be agro-processing or other forms of industry, but we believe there is an increased opportunity. As a result, we have been providing more support. Last year [2024], we mobilized approximately $450 million for companies in Ghana. This year [2025], we are targeting about $500 to $600 million. Whether it’s in industrial zones, industries or factories within these zones, or agro-processors across the country, our goal is to help create more and better jobs,” he added.
The Majority Leader, Mahama Ayariga, welcomed the IFC’s commitment, emphasizing its role in supporting the government’s job creation agenda.
“A government will always face financial constraints in fulfilling many of its commitments. Increasingly, we need to explore sources like yours and collaborate with the private sector to create jobs and grow the economy,” Ayariga remarked.
He further stressed the need for parliamentarians to facilitate industry access to funding sources and shape policies that enable industrial growth.
“It is crucial for us as lawmakers to lead in linking industries to funding sources and shaping policies that promote industrial development. This will significantly aid in our commitment to young people—creating jobs, growing the economy, and ensuring wealth is equitably distributed,” he noted.
The IFC’s latest investment forms part of its broader strategy to strengthen Ghana’s private sector and drive sustainable economic growth.
