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Ghana’s FDI to exceed 1 billion dollars – GIPC

Ghana’s Foreign Direct Investment (FDI) is expected to exceed one billion dollars, Mr Yofi Grant, the Chief Executive Officer of Ghana’s Investment Promotion Centre (GIPC) has said.

He explained that although countries around the world were now looking inwardly to develop their economies following the outbreak of the coronavirus pandemic, Ghana’s FDI remains attractive.

He stated in an interview with TV3 on Monday, that “Our FDI numbers had gone above a billion US dollars which compared to some of our peers in Africa is considered attractive.”

Mr Grant added “As you all know, at the beginning of the pandemic in mid-stream somewhere March and April, the World Bank predicted that global FDI figures were going to fall by some 40 per cent and if we didn’t get rid of COVID before the end of the year, for many countries that were ringing the alarm bells of shrinkage in Foreign Direct Investment.

“We have also recognised that over the past few years, Foreign Direct Investment, globally, has been dropping on the back of a lot of countries now looking inwardly, a lot of the political distractions that are going on around the world, the Brexit, the United States, China,” he said.

He said “But it has been very instructive for us that we have been able to hold our own and our Foreign Direct Investment figures for this year will definitely be above a billion dollars, this surpasses what we did last year.”

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