GIPC to ensure US$2.7 billion investments yield full benefits

The government has assured that the US$2.7 billion in investment inflows reported by the Ghana Investment Promotion Centre (GIPC) for the year 2020 will be put to prudent use for the benefit of Ghanaians.

Speaking at a press conference in Accra, Kojo Oppong Nkrumah, Minister of Information, said the government will continue to assiduously pursue worthwhile investments to help bolster the Ghanaian economy towards recovery by putting the inflows from GIPC into good use to shore up the economy and better the lives of Ghanaians. 

“The key thing that the GIPC is at this stage leading government to do is all of these investments in terms of their equity compositions and then their logistics compositions are on board fully so that the jobs and opportunities associated with them can be fully realized by the Ghanaian people. 

“So for example it is estimated that a total of 27,000 jobs expected to be generated from the 279 projects with operations at full capacity, about 22,000 of those jobs are expected to be for Ghanaians, while about 1,064 of those jobs just about 5% expected to be taken up by expatriate or non-Ghanaians,” Oppong Nkrumah said. 

This comes at the back of an upsurge of up to 140% in foreign direct investment (FDI) for the 2020 year, despite the ravaging effects of the coronavirus disease. 

From January to December 2020, Ghana recorded 279 projects with a total estimated investment of US$2,796.49 million. The FDI component and the local components amounted to US$2,650.97 million and US$145.52 million respectively for 2020.

Oppong Nkrumah assured that the government will through the new investment inflows registered embark on meaningful projects, and creates more jobs for Ghanaians.

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