Mawuena Trebarh, CEO of GIPC
Ghana’s agriculture and tourism sectors recorded the lowest number of investments in 2015, reports from the Ghana Investment Promotion Centre (GIPC) have revealed.
Both sectors recorded a total of 2.09 percent of all new projects registered for the year.
Total number of registered projects was 170, with a total estimated amount of $2.68 billion for 2015.
In the first quarter, out of 38 newly registered projects, agriculture had 1 with an estimated value of $4.63 million, representing 0.40 percent.
Tourism recorded three new projects valued at $601.09 million, representing 52.26 percent of the estimated value of total projects for the quarter amounting to $1.15 billion.
The second quarter saw 30 newly registered projects with an estimated value of $315.68 million but both the agriculture and tourism sectors did not attract any investment.
The third quarter recorded 52 newly registered projects with an estimated value of $820.70 million.
Agriculture registered 1 project with an estimated value of $10 million, representing 1.22 percent of total projects while tourism had no project.
The fourth quarter recorded 50 newly registered projects with an estimated value of $393.95 million.
Agriculture registered 1 new project with estimated value of $1.85 million, representing 0.47 percent of total projects recorded while no investment was recorded for tourism.
The manufacturing and services sector recorded most newly registered projects at 41 and 55 respectively of the total of 170 projects in 2015.
The FDI component of the total estimated amount of registered projects for 2015 amounted to $2.33 billion, with a local currency component of $351.31 million.
Foreign Direct Investments (FDI) in Ghana declined by 31 percent between 2014 and 2015.
The total FDI of about $3.4 billion recorded in 2014 declined to $2.3 billion in 2015.
Also, total number of projects declined from 185 to 170 for the same period.
The total initial capital transfers of registered projects also amounted to $69.70 million.
However, 13,534 jobs were expected to be created for Ghanaians out of the total number for 2015, an increase of 15.97 percent over the 2014 figure.
By Samuel Boadi