Ghana recorded $874m in investments in the first half of this year from 122 projects, figures from the Ghana Investment Promotion Center have revealed.
Of the total investments, the 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% 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 projects.
The total initial capital transfers also amounted to $47.76 million for the first half of 2021.
Sector breakdown projects
Out of the 122 projects registered, the services sector, with 63 projects, recorded the highest number of projects. It was followed by manufacturing with 24 projects. General Trading and Building and Construction followed with 18 and 6 projects respectively.
The oil & gas sector, as well as 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 an FDI value of $98.74 million.
The general trading, as well as building/construction sectors, recorded FDI values of $41.87 million and $22.63 million respectively.
In terms of regional distribution of the projects registered, nine regions directly benefited from the 122 projects.
96 projects, representing 78.69% of the projects registered are in the Greater Accra region.
The other regions are the Ashanti and Western regions with eight and nine projects respectively. Bono, Central and Eastern regions registered two projects each and Ahafo, Northern and Upper West with a project each.
Employment to be generated
A total of 8,931 jobs are expected to be generated by projects registered with operations at full capacity. 8,091 (90.59%) of these jobs would be for Ghanaians whilst the remaining 840 (9.41%) will be for non-Ghanaians per GIPC records.
Registered wholly Ghanaian owned projects
A total of 27 wholly Ghanaian-owned projects with a total estimated investment amount 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.