GIPC Reveals Ghana's Frail Macro-Economic Outlook Is Driving Investors Away

GIPC Reveals Ghana's Frail Macro-Economic Outlook Is Driving Investors Away

Figures released by the Ghana Investment Promotion Centre (GIPC) show that investor confidence for the third quarter of 2015 has fallen dramatically.

The fall in investor confidence, which has been related to Ghana's  macro-economic challenges shows that the country recorded low foreign investments for total number of projects, FDI components and value of foreign investments. According to the GIPC, foreign projects accounted for 43 out of a total of 56 recorded in the third quarter of 2014. This however reduced to 37 out of a total of 52 recorded in third quarter of 2015.

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The FDI component for the third quarter of 2014 which was 1.3 billion US dollars also dropped to 802 million dollars with the value of projects for the country with the largest FDI, declining from about 1.1 billion to 301 million dollars. While Lebanon led 2014 third quarter with 14 projects, China led third quarter of 2015 with 10 projects.

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Major investments for the period included power generation by Aska Energy Company limited investing 300.5 million dollars; Electricity power generation by Karpowership Ghana Company limited a subsidiary of the Turkish company manufacturing Ghana’s power barges. Karpowership Ghana’s investment for the third quarter was 73.27 million dollars.

Meanwhile, Finance Minister Seth Terpker has revealed his resolve to balance the fiscal deficit befallen Ghana's economy with considerations as a debt ceiling and ongoing program with the International Monetary Fund been specific measures been taken so far.

 

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