Ghana has recorded US$2.62 billion in Foreign Direct Investment (FDI) in 2025, underscoring the country’s resilience and attractiveness as a preferred investment destination despite evolving global economic conditions.
The findings, contained in the newly launched 2025 Annual Investment Report, show that investment activity remained robust across key sectors of the economy, driven by both new investors and the continued expansion of existing businesses.
The report, jointly compiled by the Ghana Investment Promotion Authority (GIPA), the Bank of Ghana, the Petroleum Commission, and the Ghana Free Zones Authority (GFZA), is themed “Resetting Ghana’s Investment Landscape for Unlocking Opportunities in a Transforming Economy.”
Strong Investment Performance
A total of 254 projects were registered through GIPA, GFZA and the Petroleum Commission during the year, generating an expected 18,748 jobs when fully operational. The report also recorded US$816.05 million in wholly Ghanaian-owned investments, demonstrating growing domestic participation in economic transformation.
Data from the Bank of Ghana showed net FDI inflows of US$1.91 billion on a Balance of Payments basis, with a remarkable 95.4 per cent of the inflows coming from reinvested earnings. The figure reflects strong confidence from existing investors, who continue to expand and deepen their operations in Ghana rather than exit the market.
Manufacturing Leads Project Activity
Manufacturing emerged as the most active sector by project count, recording 99 projects, reaffirming Ghana’s ambition to become a regional industrial and production hub.
By investment value, however, Mining Services topped the rankings, attracting US$506.61 million across 3 projects, the Manufacturing sector secured US$368.71 million across the 99 projects while the Services sector attracted US$306.36 million from 43 projects. Together, the three sectors accounted for the bulk of investment activity during the year and highlight Ghana’s expanding role in regional commerce, industrial production and digital services.
Diverse Sources of Capital
The report reveals continued investor interest from both traditional and emerging markets.
China led by project numbers with 70 registered projects, followed by India with 22 projects and Nigeria with 10 projects. By investment value, the Cayman Islands ranked first with US$500.56 million, narrowly ahead of China with US$486.06 million.
Regionally, Greater Accra remained the dominant destination, attracting 143 projects valued at US$619.37 million. Outside the capital, the Western Region secured US$553.99 million from 9 projects, while the Eastern Region attracted US$241.50 million from 3 projects, demonstrating increasing investor interest in high-value projects beyond Accra.
Massive Pipeline Signals Future Growth
One of the most significant highlights of the report is the country’s expanding investment pipeline. The GIPA tracked approximately US$11.48 billion in announced and pipeline investments spanning sectors including manufacturing, agriculture, mining, energy, technology, tourism and infrastructure.
Among the headline commitments are a US$5 billion fertiliser plant investment, a US$2 billion agreement relating to the Jubilee and TEN oil fields, and a landmark US$1 billion Ghana-UAE Artificial Intelligence Hub agreement.
These investments are expected to strengthen industrial capacity, create jobs and support Ghana’s long-term economic transformation agenda.
Positive Outlook
Looking ahead, the report projects a sustained upward trajectory in investment inflows, with FDI expected to rise from approximately US$2.80 billion in 2026 to US$3.11 billion in 2027, before moderating to US$2.38 billion in 2028, an election year.
The outlook is supported by anticipated growth in strategic sectors including renewable energy, manufacturing, agribusiness, digital services, tourism and logistics, alongside ongoing reforms aimed at improving the investment climate.
The economy expanded by an estimated 6.0 per cent in 2025, while headline inflation eased to 5.4 per cent by December 2025, providing a stable macroeconomic environment for investors.
About GIPA
The Ghana Investment Promotion Authority (GIPA) is a government agency mandated under the GIPA Act, 2026 (1173) to encourage, promote, facilitate, and regulate investments into and within Ghana, to provide for the creation of an incentive framework and a transparent, predictable and facilitating environment for investments in Ghana, to facilitate investments outside Ghana by Ghanaian investors in Ghana and to provide for related matters.
