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Business News of Wednesday, 26 May 2021


Total FDIs into Ghana rose to US$2.65 billion in 2020 - Yofi Grant

GIPC boss, Yofi Grant play videoGIPC boss, Yofi Grant

• Ghana is the third largest African country to get a raise in Foreign Direct Investments

Yofi Grant says the $2.65bn generated from FDIs in 2020 was due to investor confidence in the local economy

• He said Ghana has created enabling environment for businesses

Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has said inasmuch as Ghana’s economy was also badly hit with the coronavirus pandemic, it remains attractive to foreign investors.

According to him, Ghana was able to secure an amount of US$2.65 billion as revenue from Foreign Direct Investments (FDIs) in 2020.

He attributed this ‘success’ to the government’s ability to create an enabling environment for businesses as well as increasing investor confidence in the local economy.

He noted that this feat chalked makes Ghana the third largest African country to cash in amidst of the pandemic.

“With all the tax amendments and the exemptions that have been put in place, especially during this era of global difficulty, Ghana has increased investor confidence in the business environment and I am pleased to say that in 2020, total FDIs into Ghana was in the region of US$2.65 billion.”

“It was the third largest in Africa after Egypt with 5.5 billion, and Nigeria with 2.6 billion. Now, this is commendable because we all understand what happened during the pandemic where most nations started looking inwards and the UNDP…predicted that global Foreign Direct Investments flows will shrink by some 42 percent and of course, Africa would have been the worst hit…Despite all these, Ghana was able to maintain attractiveness,” he added.

Yofi Grant said this at the CEO breakfast meeting held in Accra on Tuesday, May 25, 2021.