Deloitte’s 2022 Africa Investment Attractiveness Index, has ranked Ghana as the second most appealing investment destination in Africa.
This ranking follows improvements in the country’s tax environment, which have made it more inviting to businesses and investors.
Speaking at the Ghana Club 100 CEO’s Breakfast Meeting in Accra on July 30, 2024, Yofi Grant, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), affirmed his commitment to maintaining Ghana’s attractiveness for foreign direct investment.
He highlighted that efforts such as streamlining the business registration process, increasing transparency, and reducing bureaucratic obstacles were implemented to create a more business-friendly environment.
“In line with our commitment to making Ghana an attractive destination for investment, the GIPC and government in general have implemented a series of reforms aimed at simplifying the business registration process, enhancing transparency, and reducing bureaucratic hurdles. Additionally, it is our desire to make Ghana much more attractive and ensure that we are able to fuel our own indigenous businesses in partnership with foreign direct investments, and we are seeing some positivity there as well,” Yofi Grant said.
He added that, “These efforts have seen Ghana ranked as the most appealing destination for investments in West Africa, according to the Deloitte 2022 Africa Investment Attractiveness Index, highlighting our dedication to creating a business-friendly environment…it is not just West Africa. It indicated that we are the second most appealing destination for investment in Africa.”
On Foreign Direct Investment, the GIPC CEO said about US$123 million was raked in as FDIs from January to March this year.
“Ghana has demonstrated relative resilience to an average Foreign Direct Investment (FDI) of approximately 1.5 billion from 2020 to 2023. From January to March this year, total FDI has been in the region of about US$123 million. When you compare that to the fact that global FDI is decreasing…I believe that the country still holds a lot of interest for Foreign Direct Investors,” Yofi Grant said.
He stated that GIPC, in collaboration with the government, was prepared to address global shocks, ensure stability, achieve debt sustainability, and restore Ghana’s economy.