Ghana’s manufacturing sector has taken center stage in foreign direct investment (FDI) projects for the first three quarters of 2024, securing an impressive $190.7 million across 55 registered projects according to the Ghana Investment Promotion Centre (GIPC) 3rd Quarter Report for 2024.
From January to September 2024, manufacturing accounted for the largest share of projects among the 108 recorded, solidifying its critical role in propelling the nation’s economic growth.
The service sector followed closely with 27 projects, attracting considerable investor attention, while general trade recorded 11 projects. Export trade contributed seven projects, while agriculture, tourism, and building and construction sectors registered three and two projects each, respectively.
Notably, the liaison sector, with just one project, brought in a striking $76.3 million in FDI, underscoring the profound impact a single high-value project can have.
Meanwhile, in terms of regional distribution, eight regions reaped the benefits of the 108 projects registered during this period. The Greater Accra Region stood out as the nation’s investment hub, attracting an overwhelming 86 projects.
The Ashanti Region followed with nine projects, while the Western Region recorded five. Other regions, including Eastern with four projects, and Upper East, Northern, and Western North with one project each, also saw some activity.
This distribution paints a clear picture of the uneven concentration of investments, with Greater Accra’s economic vibrancy placing it at the heart of Ghana’s FDI inflows.
Yet, the presence of projects in other regions signals the potential for more widespread development in the future.
The 108 projects are expected to create a total of 12,097 jobs when operating at full capacity. Of these, 10,685 jobs, representing 88.3%, will go to Ghanaians, while the remaining 1,412 jobs, representing 11.7%, will be reserved for non-Ghanaians.
