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Ishmael Mensah Blog of Friday, 15 November 2024

Source: Ishmael Mensah

In the first half of 2024, China will be Ghana's top source of investment destinations.

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In the first half of 2024, Ghana's top investment destination was China. The Far East nation had the most registered projects (26), according to the Ghana Investment and Promotion Center's first-half 2024 Investment Report. But in the first half of 2024, Spain had the largest amount of foreign direct investment (FDI), at US$76.41 million.

During that time, sixty-nine projects were registered. 53 of the 69 projects that were registered were entirely owned by foreigners, accounting for 76.8% of the total number of projects with an estimated total investment cost of US$177.79 million.

There were sixteen joint venture initiatives between Ghanaians and their international counterparts, accounting for 23.2% of all projects, with an estimated total investment cost of $8.37 million USD. Seventeen companies raised an additional US$28.14 million in stock between January and June 2024.

In the first half of 2024, the county received US$179.07 million in foreign direct investments (FDIs). This included a US$7.09 million local component and an FDI component of US$179.07 million.

The initial transfers totaled 17.73 million US dollars. Targeting industries like agriculture, building and construction, export and general trade, liaison, manufacturing, services, and tourism, these investments are anticipated to create 8,524 jobs once fully functioning.

The manufacturing sector had the most projects. With 29 projects, the industrial sector had the most of the 69 projects registered in the first half of 2024.

Services (19) came next, followed by general trading (11), export trade, building and construction (3 projects each), tourism (2 projects), and agricultural (1 project each). With US$76.30 million, liaison had the largest FDI, followed by manufacturing ($62.16 million) and general trading ($20.99 million).