Ghana bags $617.61m from FDIs in 2024

Ghana bagged US$617.61 million from Foreign Direct Investments in 2024, the Ghana Investment Promotion Center has revealed.

According to the Center, 140 projects were registered with a total estimated investment cost of US$651.72 million. This comprised a local component of US$34.11 million. The total initial transfers amounted to US$31.25 million. Of the 140 projects registered, 107 were wholly foreign-owned, representing 76.43% of the number of projects with a total estimated investment cost of US$341.65 million.

The Joint Venture projects between Ghanaians and their foreign counterparts were 33. This represented 23.57% of the number of projects and with a total estimated investment cost of US$310.07 million.

Sectoral Distribution

Out of the 140 projects registered in 2024, the manufacturing sector recorded the highest number with 66 projects. This was followed by services with 40, general trade with 15, tourism with four, export trade with nine, agriculture with three, building and construction with two and liaison with one project. The services sector recorded the highest FDI value of US$281.56 million. This was followed by manufacturing sector with US$220.62 million, and liaison sector with US$76.30 million.

Commenting, the Chief Executive Officer, Simon Madjie, said the new administration’s proposed policy initiatives, alongside the ongoing Extended Credit Facility (ECF) Programme under the International Monetary Fund (IMF), are set to reinforce economic recovery and drive investments.

“The administration’s focus on improving the ease of doing business, encouraging public-private partnerships, and implementing investor-friendly reforms is expected to attract FDI into critical sectors like energy, infrastructure development, digital transformation, and agriculture. Additionally, efforts to deepen regional trade integration and advance governance reforms will further solidify Ghana’s positioning as a preferred investment destination”, he added.

Sources of Investments

China, with 49 projects, was the leading source of registered projects by number. The Netherlands, with a Foreign Direct Investment (FDI) value of US$265.33 million, was the leading source by FDI value.

From January to December 2024, 26 companies brought in additional equity totaling US$34.67 million. Fifty-four wholly Ghanaian-owned projects with a total project value of US$1.36 billion were registered in 2024. These projects were registered in the building and construction, export trade, general trade, manufacturing, tourism and services sectors.

Renewal of GIPC Registration

From January to December, 694 companies renewed their registration with the Centre. Under the GIPC Act 865, companies are required to renew their certificates after every two years. Out of the 694 companies that renewed their registrations, 455 were wholly foreign companies, 165 were Joint Venture companies involving Ghanaians and 74 were wholly Ghanaian companies.

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