Yofi Grant, CEO GIPC
The Ghana Investment Promotion Center (GIPC) has recorded $874m in investments in the first half of this year from 122 projects.
Figures from the GIPC revealed that out 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 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,” a statement released by the GIPC said. “The total initial capital transfers also amounted to $47.76 million for the first half of 2021.”
Out of the 122 projects registered, the services sector, recorded the highest number with 63 projects, 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 and the agriculture sector recorded one project.
The services sector recorded the largest value of $597.63 million followed by the manufacturing sector with a value of $98.74 million.
The general trading as well as building/construction sectors recorded 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 out of which 96 projects, representing 78.69% of the projects registered are in the Greater Accra region.
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.
A total of 27 wholly Ghanaian owned projects with 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.
By Jamila Akweley Okertchiri