Ghana records $874 million in investments in first half of 2021-GIPC

By InstinctBusiness Sep 3, 20210

Ghana recorded $874 million in investments in the first half of this year from 122 projects.

According to the Ghana Investment Promotion Centre, GIPC, of the total investments, Foreign Direct Investment, FDI component amounted to $829.29 million, while the local component accounted for $44.72 million.

This is an increase of 32.15 percent over the FDI value of $627.52 million recorded in the first half of 2020.

Out of the 122 projects registered, 94 were newly registered projects and 28 were upstream ones. General Trading and Building and Construction followed with 18 and 6 projects.

The oil & gas as well as the export trade sectors recorded five projects each.

The agriculture sector also recorded a project.

In terms of the FDI values, the services sector recorded the largest value of $597.63 million.

This was followed by the manufacturing sector with FDI value of $98.74 million. The general trading as well as building or construction sectors recorded FDI values of $41.87 million and $22.63 million.

In terms of regional distribution of the projects registered, nine regions directly benefited from the 122 projects. 96 projects, representing 78.69 percent of the projects registered are in the Greater Accra region.

The other regions are the Ashanti and Western with eight and nine projects. Bono, Central and Eastern regions registered two projects each and Ahafo, Northern and Upper West with a project each.

A total of 8,931 jobs are expected to be created by projects registered with operations at full capacity. 8,091 representing 90.59 percent of these jobs would be for Ghanaians whilst the remaining 840 which also represent 9.41 percent will be for non-Ghanaians per GIPC records.

A total of 27 wholly Ghanaian owned projects with a total estimated investment of $669.64 million were registered for the first half of 2021. These projects were registered for the agriculture, building & construction, general trading, manufacturing and services sectors.