GIPC

Ghana recorded $123.06 million in foreign direct investment according to data from the Ghana Investment Promotion Centre (GIPC). This represents a 16% increase compared to the $106.02 million recorded for the same period in 2023. “In the first quarter of 2024, thirty-two (32) projects were registered by GIPC with a total estimated investment cost of US$128.13 million. This comprised [Foreign Direct Investment] FDI component of US$123.06 million and local component of US$5.07 million. “Total initial transfers amounted to US$9.67 million. Of the 32 projects registered, 24 were wholly foreign-owned, representing 75% of the number of projects with a total estimated…

The Ghana Investment Promotion Centre (GIPC) is confident that its ongoing legislative reforms will effectively address barriers that hinder foreign investor confidence. GIPC has identified challenges in obtaining necessary documentation from the Customs Division of the Ghana Revenue Authority (GRA) and highlighted inadequate collaboration among government and customs officials as concerns for foreign businesses, impacting their operations in the country. The Deputy Chief Executive Officer of GIPC, Yaw Amoateng Afriyie, during his opening remarks at a stakeholder forum on customs controls and regulations, underscored the Centre’s efforts in tackling the challenges that affect the growth of foreign businesses in the…

CEO of the Ghana Investment Promotion Center (GIPC), Yoofi Grant, has reiterated the government’s commitment to creating a conducive investment environment to boost economic activities and foreign investments. He stressed the pivotal role investors play in driving the nation’s progress, emphasizing the government’s readiness to engage with international partners for mutual gain. Despite grappling with significant economic challenges during the COVID-19 pandemic in 2020, Ghana witnessed encouraging Foreign Direct Investment (FDI) inflows in the initial quarter of 2021, surpassing figures from 2020 and 2019 for the same period. During the first quarter of 2021, the country attracted an estimated investment totaling $719.97 million, with FDI reaching $682.19 million. By the…

The Enhanced Domestic Programme (EDP) being forged through discussions by government with the International Monetary Fund (IMF) will reinforce initiatives under the COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) and strengthen investor confidence in the Ghanaian economy, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has said. EDP is a 3-year fast-tracked macroeconomic stabilisation programme that seeks to restore investor confidence and achieve fiscal and debt sustainability, and is intended to be largely driven by a mix of robust structural reforms and revenue, expenditure and finance policies. The CEO of GIPC, while noting impacts…