CEO of GIPA, Simon Madjie (2nd L) with other stakeholders launching the report
Ghana has recorded US$2.62 billion in Foreign Direct Investment (FDI) in 2025, reflecting continued investor confidence in the country despite changing global economic conditions.
The figure contained in the 2025 Annual Investment Report launched at the Bank Square in Accra showed that investment activity remained robust across key sectors of the economy, driven by both new investors and the continued expansion of existing businesses.
The report, jointly compiled by the Ghana Investment Promotion Authority (GIPA), the Bank of Ghana (BoG), the Petroleum Commission, and the Ghana Free Zones Authority (GFZA), is themed, “Resetting Ghana’s Investment Landscape for Unlocking Opportunities in a Transforming Economy.”
According to the report, a total of 254 projects were registered through GIPA, GFZA and the Petroleum Commission during the year, generating an expected 18,748 jobs when fully operational.
The report also recorded US$816.05 million in wholly Ghanaian-owned investments, demonstrating growing domestic participation in economic transformation.
It stated that data from the Bank of Ghana showed net FDI inflows of US$1.91 billion on a balance of payments basis, with a remarkable 95.4 per cent of the inflows coming from reinvested earnings.
The report indicated that the figure reflects strong confidence from existing investors, who continue to expand and deepen their operations in the country rather than exiting the market.
It stated that manufacturing emerged as the most active sector by project count, recording 99 projects, reaffirming Ghana’s ambition to become a regional industrial and production hub.
“By investment value, however, mining services topped the rankings, attracting US$506.61 million across 3 projects, the manufacturing sector secured US$368.71 million across the 99 projects while the services sector attracted US$306.36 million from 43 projects”.
“Together, the three sectors accounted for the bulk of investment activity during the year and highlight Ghana’s expanding role in regional commerce, industrial production and digital services,” it stated.
The report reveals continued investor interest from both traditional and emerging markets with China leading with 70 registered projects, followed by India with 22 projects and Nigeria with 10 projects.
It also showed that by investment value, the Cayman Islands ranked first with US$500.56 million, narrowly ahead of China with US$486.06 million.
“Regionally, Greater Accra remained the dominant destination, attracting 143 projects valued at US$619.37 million. Outside the capital, the Western Region secured US$553.99 million from 9 projects, while the Eastern Region attracted US$241.50 million from 3 projects, demonstrating increasing investor interest in high-value projects beyond Accra,” parts of the report stated.
One of the most significant highlights of the report is the country’s expanding investment pipeline. The GIPA tracked approximately US$11.48 billion in announced and pipeline investments spanning sectors including manufacturing, agriculture, mining, energy, technology, tourism and infrastructure.
Among the headline commitments are a US$5 billion fertiliser plant investment, a US$2 billion agreement relating to the Jubilee and TEN oil fields, and a landmark US$1 billion Ghana-UAE Artificial Intelligence Hub agreement.
These investments, the report noted are expected to strengthen industrial capacity, create jobs and support Ghana’s long-term economic transformation agenda.
The report projects a sustained upward trajectory in investment inflows, with FDI expected to rise from approximately US$2.80 billion in 2026 to US$3.11 billion in 2027, before moderating to US$2.38 billion in 2028, an election year.
“The outlook is supported by anticipated growth in strategic sectors including renewable energy, manufacturing, agribusiness, digital services, tourism and logistics, alongside ongoing reforms aimed at improving the investment climate,” it added.
By Ebenezer K. Amponsah