{"id":469044,"date":"2011-07-27T17:40:12","date_gmt":"2011-07-27T17:40:12","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/07\/27\/ghana-receives-2-5b-becomes-7th-largest-recipient-of-fdis-in-africa-as-oil-attracts-investors\/"},"modified":"2011-07-27T17:40:12","modified_gmt":"2011-07-27T17:40:12","slug":"ghana-receives-2-5b-becomes-7th-largest-recipient-of-fdis-in-africa-as-oil-attracts-investors","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/07\/27\/ghana-receives-2-5b-becomes-7th-largest-recipient-of-fdis-in-africa-as-oil-attracts-investors\/","title":{"rendered":"Ghana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb Investment<\/a>, Lead Story<\/a> \u00bb Ghana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors<\/p>\n

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Page last updated at Wednesday, July 27, 2011 17:17 PM \/\/ <\/span><\/div>\n

\"\"<\/a>Ghana became the 7th largest recipient of foreign direct investments (FDIs) in Africa at the end of 2010. Investors brought into the country, an amount of $2.5 billion, according to the 2011 World Investment Report.<\/p>\n

This was against $2 billion the country received in 2009. Total FDI inflows to Africa for 2010 was $55 billion, representing 10% of total FDI inflows to developing countries.<\/p>\n

The report, prepared by the United Nations Conference on Trade and Development (UNCTAD) and released on July 26, 2011, says FDIs into Ghana increased largely because of Trans-National Corporations\u2019 (TNCs) attraction to the oil discovery in the country. Ghana poured its first crude on December 15, 2010.<\/p>\n

\u201cAs for Ghana, the start of major oil production has attracted the interest of TNCs, some of which are seeking an alternative sub-regional source of oil to Nigeria,\u201d said the report.<\/p>\n

The report notes that Ghana as an alternative for these TNCs for FDIs is due to Nigeria\u2019s uncertainty over the \u201cPetroleum Industry Bill-1 which is perceived as unfavourable for TNCs, and the unresolved political problem in the Niger Delta discouraging foreign investors which allegedly led Shell to sell a number of its onshore licences\u201d in the country.<\/p>\n

But these situations coupled with the recent happenings in the oil-rich North African countries led to the decline of FDIs to the continent despite the fact that the industry continues to be the largest beneficiary of FDIs.<\/p>\n

It accounted for the rise of Ghana as a major host country, as well as for the declines of inflows to Angola and Nigeria, says the report.<\/p>\n

Angola was the largest earner of inflows in Africa with an amount of $9.9 billion, followed by Egypt, Nigeria and Libya all earning $6.4 billion, $6.1 billion and $3.8 billion respectively.<\/p>\n

DR Congo had $2.9 billion, Congo Brazzaville $2.8 billion; Ghana received $2.5 billion while Algeria, Sudan and South Africa received $2.3 billion, $1.6 billion and $1.6 billion from the continent\u2019s FDI inflows share.<\/p>\n

By Ekow Quandzie<\/p>\n

Comments<\/h4>\n<\/div>\n

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\nGhana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You Are Here: Home \u00bb Investment , Lead Story \u00bb Ghana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors Page last updated at Wednesday, July 27, 2011 17:17 PM \/\/ Ghana became the 7th largest recipient of foreign direct investments (FDIs) in Africa at the end of 2010. Investors brought into the country, an amount of $2.5 billion, according to the 2011 World Investment Report. This was against $2 billion the country received in 2009. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469044","post","type-post","status-publish","format-standard"],"yoast_head":"\nGhana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/07\/27\/ghana-receives-2-5b-becomes-7th-largest-recipient-of-fdis-in-africa-as-oil-attracts-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb Investment , Lead Story \u00bb Ghana receives $2.5b, becomes 7th largest recipient of FDIs in Africa, as oil attracts investors Page last updated at Wednesday, July 27, 2011 17:17 PM \/\/ Ghana became the 7th largest recipient of foreign direct investments (FDIs) in Africa at the end of 2010. 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