Ghana’s petroleum sector remained a major destination for foreign investment in 2025, attracting US$739 million in capital from existing upstream companies, even as the country recorded a broader recovery in investment activity.
The figure formed part of the US$2.62 billion in investment inflows recorded by the Ghana Investment Promotion Authority (GIPA) across 245 new projects and existing companies during the year.
According to GIPA’s 2025 Investment Report, the petroleum investments came from 18 existing upstream companies, highlighting the continued commitment of international operators already established in Ghana’s oil and gas industry.
The report said new projects accounted for the majority of the overall inflows, with 181 new projects valued at US$1.4 billion.
The figures point to two parallel developments in Ghana’s investment landscape: the arrival of new investment projects and continued capital commitments from companies already operating in the country.
At the broader economic level, balance-of-payments data showed foreign direct investment rising to US$1.91 billion, with 95.4% attributed to reinvested earnings.
The high share of reinvested earnings suggests that foreign companies operating in Ghana retained and channelled a significant portion of their earnings back into their local operations, which GIPA said points to stronger investor retention and confidence.
Beyond petroleum, the Ghana Free Zones Authority recorded 42 new capital investments worth US$176 million, while the general trade sector accounted for 23 projects valued at US$733 million.
China led by the number of projects, with 70 investments, followed by India with 22, Nigeria with 10, the United Arab Emirates with nine and the United Kingdom with eight.
By investment value, the Cayman Islands topped the list at US$500 million, followed closely by China with US$486 million.
GIPA also identified an additional US$11.48 billion in announced and pipeline investments, although these represent prospective commitments rather than capital already invested in Ghana.
The authority said the improvement in investment activity reflected Ghana’s progress towards macroeconomic stability, renewed investor engagement and a widening pipeline of opportunities across sectors.
It expects investment opportunities to expand further in agro-processing, manufacturing, digital services and value-added exports as economic conditions continue to improve.
