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China is leading source of investment destinations in Ghana in half-year 2024

 


China was Ghana's leading source of investment destinations in the first half of 2024.

According to the first-half 2024 Investment Report by Ghana Investment and Promotion Center, the Far East country had the highest number of registered projects of 26.

However, Spain recorded the highest foreign direct Investment (FDI) value of US$76.41 million in the first half of 2024.

Sixty-nine projects were registered during the period.

Of the 69 projects registered, 53 were wholly foreign-owned, representing 76.8% of the number of projects with a total estimated investment cost amount of US$177.79 million.

The Joint Venture projects between Ghanaians and their foreign counterparts were 16, representing 23.2% of the number of projects and with a total estimated investment cost amount of US$ 8.37 million.

From January to June 2024, seventeen companies brought in additional equity totaling US$28.14 million.

Meanwhile, the county bagged US$179.07 million from Foreign Direct Investments (FDIs) in the first half of 2024.

This comprised an FDI component of US$179.07 million and the local component of US$ 7.09 million. Total initial transfers amounted to US$ 17.73 million. These investments are expected to generate 8,524 jobs once fully operational, targeting sectors such as Agriculture, Building and Construction, Export and General Trade, Liaison, Manufacturing, Service, and Tourism.

Manufacturing sector recorded highest number of projects

Out of the 69 projects registered in the first half year of 2024, the manufacturing sector recorded the highest number with 29 projects.

This was followed by services (19), general trading (11), export trade and building and construction recorded (3) projects each, tourism recorded (2) projects and liaison and agriculture recorded (1) project each.

Liaison recorded the highest FDI with US$76.30 million followed by manufacturing with US$62.16 million, and General Trading sector with US$20.99 million.

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