Ghana is shifting its investment strategy toward ensuring foreign capital translates into higher production, stronger local businesses and jobs, moving beyond a focus on the volume of funds entering the economy, Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare said.
Ghana attracted about $2.6 billion in foreign direct investment across more than 250 new projects and existing companies in 2025, with significant reinvestment by businesses already operating in the country, Ofosu-Adjare said Friday at the launch of the Ghana Investment Promotion Authority’s 2025 Annual Investment Report in Accra.
“Are they expanding our productive capacity, creating opportunities for Ghanaian enterprises, strengthening value chains and opening new markets for what we produce?” the minister said.
The government’s new approach is intended to ensure that investment generates wider economic benefits through increased production, industrial linkages and value-chain development, rather than being measured primarily by the amount of capital attracted.
Ofosu-Adjare said the continued reinvestment by existing investors demonstrates confidence in Ghana’s economic prospects, while government’s role is to convert that confidence into increased production, stronger businesses and sustainable economic value.
The report identifies almost $12 billion in announced and pipeline investments, according to the minister, highlighting a substantial pool of potential capital that government wants to translate into operating businesses, production and employment.
Focus Shifts to Industrial Linkages
The minister singled out agribusiness as a sector where investment can generate broader economic benefits by connecting agriculture to processing, packaging, transport, warehousing, distribution and exports.
Local processing, she said, allows more value from agricultural production to be retained within Ghana while creating opportunities across associated industries.
Government is also prioritising textiles and garments, pharmaceuticals, automotive manufacturing and components, and agro-processing as sectors capable of strengthening Ghana’s industrial competitiveness.
The strategy reflects a broader push to ensure that companies investing in Ghana create stronger links with domestic suppliers and contribute to the development of local productive capacity.
Ofosu-Adjare encouraged investors expanding in Ghana to establish partnerships with local suppliers, use local inputs where possible and invest in skills development for young Ghanaians.
Business Climate Key to Investment
The minister said attracting and retaining investment will depend on Ghana providing a predictable operating environment, including reliable infrastructure, access to financing, skilled labour, regulatory certainty and responsive public institutions.
She said the passage of the bill establishing the Ghana Investment Promotion Authority would strengthen investment facilitation and modernise the country’s approach to supporting investors as competition for global capital intensifies.
The Ministry of Trade, Agribusiness and Industry is also working toward passage of the Business Regulatory Reform Bill, which Ofosu-Adjare said would help assess business regulations, encourage consultation between the public and private sectors and provide clearer guidance on compliance requirements.
AfCFTA Raises Stakes for Ghana
The minister also pointed to the African Continental Free Trade Area as a major opportunity for companies operating in Ghana, while warning that access to the continental market will depend on businesses being able to produce efficiently and consistently meet quality and standards requirements.
Ghana’s competitive advantage under AfCFTA, she said, will depend on its ability to produce efficiently, maintain quality and supply markets across Africa.
She said government will continue efforts to improve the ease of doing business, strengthen coordination among public institutions and reduce delays that prevent investment decisions from becoming actual production.
“Investment should leave a visible economic footprint in Ghana through expanded production, stronger local enterprises, productive jobs and greater access to regional and international markets,” she said.
The Chief Executive Officer of GIPA said manufacturing leads by project count, while mining services account for the highest foreign direct investment value.
Bank of Ghana Governor Johnson Pandit Asiama welcomed the findings of the report, describing it as a reflection of renewed confidence in Ghana’s economy. He said the report provides insight into the direction of investment and economic growth beyond headline statistics.
The launch also saw GIPA sign a memorandum of understanding with Oxford Business Group to collaborate on a global investment campaign for Ghana.
