GIPC Wins Best Agency For The 5th Time

Yofi Grant, GIPC boss

The Ghana Investment Promotion Centre has once more been awarded the Best Investment Promotion Agency in west and central Africa at the Annual Investment Meeting (AIM) Investment Awards 2020.

This is the fifth consecutive year that the Ghana Investment Promotion Centre has clinched the prestigious award.

“This is a clear indication that we are on the right path to establishing Ghana as the preferred destination for foreign direct investments critical to the realization of a Ghana Beyond Aid,” said Chief Executive Officer of GIPC, Yofi Grant.

The project, P.E Power Ltd, which earned the centre the award, was a project within the energy sector. It was registered in 2019 as a joint venture between American, British, Israeli and Mauritanian investors valued at $551 million.

It is the operations and maintenance company for the Amandi Energy Limited power plant, located at Aboadze in the Western Region of Ghana.

Besides the sizeable value of the investment, the P.E Power project will create some 67 direct jobs and several indirect jobs when fully operational.

According to Mr. Grant, the receipt of the award would serve as further encouragement for the GIPC to work relentlessly at making Ghana a destination of choice for investments into Africa.

“Although recent months have seen one of great economic turmoil globally due to the Covid-19 pandemic, Ghana has demonstrated excellent leadership in managing the crisis, and the GIPC continues to assure the investor community that our economy will remerge much more resilient when the dust settles post the pandemic,” he added.

The award comes on the back of the GIPC’s sterling half year performance, in which a total of $785.62 million was recorded as foreign direct investments into Ghana between January and June 2020 despite the economic challenges posed by Covid-19.


BY Melvin Tarlue

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