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A report released by World Investment has shown that Ghana is the second country in West Africa with more foreign direct investments.
It noted that the Foreign Direct Investment (FDI) flows in Ghana increased by 39 percent to $2.6 billion in 2021.
The rise in the country’s FDI flows was attributed to major projects in the extractive sector.
“The increase in FDI flows reflects the findings of the Deloitte 2022 Africa Investment Attractiveness Index, which placed Ghana as the second most appealing destination for investments in Africa based on the comments of nearly 200 CEOs,” the report stated.
Reacting to this, Chief Executive Officer of Ghana Investment Promotion Centre (GIPC), Yofi Grant alluded that Ghana has a great global reputation.
He indicated that the country also has a conducive environment for businesses to thrive.
“Ghana has a great global reputation, and as the host of the African Continental Free Trade Area, it provides considerable opportunities for businesses to trade in the enormous African market,” he said.
“Furthermore, with our democratic stability and smart business policies in place, such as the 10-Point Industrialization Agenda, Ghana most appeals to investors seeking stability and vibrancy in order to prosper and grow their firms. So, despite the current economic difficulties, investors continue to see Ghana as a desirable destination to invest,” Yofi Grant added.
In recent years, the government through the GIPC has made FDI attraction a priority by improving its investment attraction strategy to a more proactive one.
It has also spurred private sector investment through the Ghana Covid 19 Alleviation and Revitalization of Enterprises (CARES) programme – a 100 billion Ghana Cedis economic response programme, aimed at supporting the private sector in targeted sectors, to accelerate growth and stabilize the Ghanaian economy.
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