The agency recorded a total of 69 projects with an estimated value of $688.7m between January and June 2020. Out of these projects, FDI corresponded to $627.5m, an increase of 80.4% from the same period in 2019, when flows reached $123.3m.
Services was the sector that brought in the most projects, with a total of 25 out of the 69 recorded. This was followed by the manufacturing sector with 21 projects, and the export trade sector with 11.
Ghana’s strong FDI performance is attributed partly to its economic diversification
The IPA is attributing this “seemingly positive performance of FDI inflows” to the gradual easing of lockdown restrictions set in place to contain the Covid-19 virus, and to initiatives and incentives by the government to “buffer businesses and the economy”.
Some of the business-friendly measures adopted by the government include an extension to due dates for tax filing, a reduction in tariffs on imports or low-interest loans, and a reduction in utility bills.