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China leads in project investments in Ghana – GIPC report

From January to September 2017, China was the leading source of investments in terms of project numbers in Ghana. It registered 25 projects. India and the United Kingdom followed with 19 and 13 projects respectively, according to the third quarter report by the Ghana Investment Promotion Centre (GIPC).

On the other hand, with Foreign Direct Investment (FDI) value of $2.44 billion, the Netherlands ranked tops of the list of source countries in terms of FDI Values.  Again, India occupied the second position with total FDI Values of  $411.75 million. 

Investments recorded during the first three quarters of the year 2017 amounted to $5,632.05 million with FDI component of $4,366.06 million. This is made up of investment registrations at GIPC, the Ghana Free Zones Board (GFZB), the Minerals Commission, and the Petroleum Commission. A minimum of 12,259 jobs are expected to be created as a resultant effect of the inflows.

In the third quarter, India and the United Kingdom, with five (5) projects each, were the leading sources of investments by project numbers.

On the other hand, with FDI value of $21.62 million, Denmark topped the list of countries with the largest value of investments registered during the quarter.

The FDI component of the total estimated value of the projects registered during the period under review (July to September 2017) was $94.75 million, representing 79.1% of the total estimated value, and a local currency component of $25.06 million, representing 20.9%.

The total foreign equity was US$45.66 million and the initial equity transfer within the quarter was $21.37 million.

During the period under review, the total number of projects registered was 139 with a total estimated value of approximately $3.37 billion.

The FDI component came to $3.25 billion representing an 80% increase over the $1.81 billion figure recorded in the corresponding period in 2016. 

At full capacity, the 139 new projects are expected to generate 7,273 jobs for Ghanaians.

Six out of the ten regions directly benefited from the registered projects during the quarter. The regions are Ashanti, Central, Greater Accra, Northern, Volta and Western regions. 84.09% of all the projects registered are located in the Greater Accra region.