Ghana attracts $617m in foreign investments for 2024
Ghana secured USD617.61 million in Foreign Direct Investments (FDIs) in 2024, according to data released by the Ghana Investment Promotion Centre (GIPC).
The inflows came from 140 registered projects, with a combined estimated investment value of USD651.72 million, comprising a local component of USD34.11 million.
The GIPC indicated that initial capital transfers into the economy stood at USD31.25 million, highlighting the tangible commitment of investors during the period under review.
Breakdown of Investments
Of the 140 projects registered, 107 were wholly foreign-owned, representing 76.43 per cent of the total.
These projects had an estimated cost of USD341.65 million. The remaining 33 projects, accounting for 23.57 per cent, were joint ventures between Ghanaians and foreign partners, valued at USD310.07 million.
Sector-wise, the manufacturing sector dominated with 66 projects, followed by services with 40, general trade with 15, export trade with nine, tourism with four, agriculture with three, building and construction with two, and liaison with one.
In terms of value, the services sector attracted the highest FDI inflows of USD281.56 million, driven largely by technology, financial services and logistics investments. The manufacturing sector followed with USD220.62 million, reflecting continued confidence in Ghana’s industrial base.
Notably, the liaison sector recorded USD76.30 million, largely from multinational firms establishing regional coordination offices in Accra.
Policy Support for Growth
Commenting on the figures, GIPC Chief Executive Officer Simon Madjie expressed optimism that recent government initiatives will sustain momentum in 2025 and beyond.
“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,” Mr Madjie stated.
He further noted that the ongoing Extended Credit Facility (ECF) Programme under the International Monetary Fund (IMF), alongside proposed structural reforms, would reinforce economic stability and enhance investor confidence.
“Additionally, efforts to deepen regional trade integration and advance governance reforms will further solidify Ghana’s positioning as a preferred investment destination,” he added.
Outlook
Analysts say Ghana’s ability to secure over USD600 million in FDIs in a challenging global environment reflects resilience and investor confidence.
However, they caution that regional imbalances in project distribution and persistent currency volatility must be addressed to fully maximise FDI inflows.
The GIPC has pledged to intensify its investor outreach and regional promotion strategies to attract more diversified and equitable investments across all sectors of the economy.
