News Headlines

GIPC Registers More Investments in the First Quarter of 2012

The results of the 1st Quarter of this year, give a good indication of the levels of Foreign Direct Investments (FDI) that the country will attract in 2012.

In the first quarter of this year, the Centre recorded a total of 95 new projects with a total estimated value of US$1.18 billion. The estimated value represents an increase of 67.98% compared to the value recorded in the same quarter of 2011.

The FDI component of the estimated value of the newly registered projects amounted to US$979.85 million which is a significant increase of about 178% over the recorded FDI value in the corresponding quarter of 2011. The total initial capital transfers for the quarter amounted to US$43.27 million. The USA with an FDI value of US$407.21 million was ranked first and China remains the top source of FDI in terms of the number of projects.

Of the 95 projects registered during the first (1st) quarter, 52 representing (54.74%), were wholly-foreign owned enterprises valued at GH¢718.71 million (US$422.77 million.) This figure also represents 35.77% of the total estimated value of projects registered. The remaining 43 projects being (45.26%) were joint ventures between Ghanaians and foreign partners and valued at GH¢1.29 billion (US$759.28 million) constitutes 64.23% of the total estimated value of projects registered.

For the corresponding quarter of 2011, 66 wholly- foreign owned enterprises and 43 joint ventures were registered and valued at GH¢175.07 million (US$116.71 million) and GH¢392.58 million (US$261.72 million) respectively.

 

Ghana Club 100 2011 Edition Entries

The Ghana Investment Promotion Centre (GIPC) announces for the information of the Ghanaian Corporate Community that, the Ghana Club 100 Awards, 2011 Edition will come off on 12th September, 2012under the theme "Public Private Partnership – ensuring domestic entrepreneurs' participation in Ghana's development" on.The objectives of the GC 100 are to develop an open information culture within the Ghanaian corporate sector, provide incentives for improved performance, develop uniform criteria for evaluating this performance, and to establish an annual and current analysis of the Corporate sector.

Criteria

All entrants must be limited liability companies. For companies with Government interest, Government ownership should be less than 50%, unless the company is listed on the Ghana Stock Exchange. All entrants must have a cumulative net profit that is positive for the most recent three year period.

Based on information received from the above criteria, businesses will be categorized according to the ten strategic sectors which are in line with government's development agenda i.e.  Agriculture and Agribusiness, Financial Services, Information and Communication Technology, Services, Infrastructure, Petroleum and Mining Services, Manufacturing, Tourism, Health and Education.

GIPC Continues to Registers More Investments in the Second Quarter of 2012

The Ghana Investment Promotion Centre continues to register more investments into the Ghanaian economy. At the end of the 1st half of 2012, records indicate that a total of 203 newly registered projects with an estimated value of GH¢5,506.92 million (US$3,059.40 million) was registered by the Centre.

Out of the estimated value of the registered projects, the FDI component amounted to GH¢4,536.94 million (US$2,520.52 million), representing a significant increase of over 170% compared to the recorded value for the corresponding period in 2011. The local currency component amounted to GH¢969.98 million (US$538.88 million) for the 1st half of the year. A total number of 10,316 jobs are expected to be created by the registered projects from the first half of 2012.

Out of the total number of jobs to be created 9,114 will be for Ghanaians and the remaining 1,202 will be for expatriates.

From the 108 projects registered during the second (2nd) quarter, 68 projects, representing (62.96%), were wholly-owned foreign enterprises valued at GH¢1,416.26 million (US$786.81 million) which is 41.91% of the total estimated value of projects registered.

The remaining 40 projects being (37.04%) were joint ventures between Ghanaians and foreign partners and also valued at GH¢1,962.98 million (US$1,090.55 million) which is 58.09% of the total estimated value of projects registered.

Foreign Investor Confidence Soars

Foreign investor confidence in the country's economy continues to soar in spite of the upcoming general election which otherwise would have compelled investors to adopt a lackluster attitude.

The show of confidence is in the number of registered investments for the first three quarters of 2012, which recorded 305 projects valued at $4.97 billion.
The feat represents an increase of 6.42 per cent on the value recorded for the same period last year.

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. George Aboagye, who announced this at a news conference in Accra said "this is an endorsement of the country's democratic credentials and trust in the economy as well".

Of the projects registered, the Foreign Direct Investment (FDI) component amounted to $4.38 billion as against $4.1 billion the same time last year, representing 6.5 per cent increase.

Mr. Aboagye said the total number of jobs expected to be created from the registered projects was about 16,364 of which 14,560 would be Ghanaians with the remaining number being expatriates.

Giving further breakdown of the projects registered for the period, Mr. Aboagye said 176 were wholly-owned foreign enterprises while 129 were joint ventures between Ghanaian and foreign partners.

The joint venture projects were valued at $1.89 billion with the value of wholly-owned foreign enterprises settling at $3.08 billion.

Mr. Aboagye said China continued to maintain its dominance as 40 projects came from that country for the first three quarters of the year, followed by Nigeria with 35; India with 32 and Lebanon with 20.

However, in terms of value, Lebanon topped the list of the FDIs registered during the period under review with $1.48 billion, while British Virgin Islands recorded $811 million; Mauritius, $545 million and the United States of America having $470 million.
For distribution into sectors, the services sector topped the list with 23 projects, while manufacturing also topped in terms of projects with the highest value of $7.39 billion.

The Brong Ahafo region recorded only one project but had the highest value of $7,360 million. The Greater Accra Region recorded 38 projects at an estimated value of $306.6 million, the second highest in the year.

Within the same period, 328 projects in the country were registered with GIPC of which the actual total investment recorded was $612.39 million.
Mr. Aboagye said the GIPC "remains resilient and steadfast towards its mandate to attract the best FDI needed for the development of the country and to enhance the livelihoods of its citizenry even as the country goes into the December general elections which we expect to be another peaceful one".

He assured potential and existing investors in the country to make Ghana their investment destination of choice and be part of its development drive.
According to him, investments in the country were secure and noted that the government was well-positioned to ensure that their investments were protected at all times to enable them to continue creating jobs for the people.

Source: Daily Graphic

Ghana Economic Outlook & Business Strategy Conference

The Ghana Investment Promotion Centre (GIPC) is collaborating with The Ministry of Finance, Ministry of Trade and Industry, Dominion University College Business School and The Africa Business Media (Publishers of the Ghana Business & Finance Magazine) to organize the Ghana Economic Outlook and Business Strategy Conference on 21st November 2012 at the Accra International Conference Centre (AICC) under the theme; "Strategy for a Good Year 2013"

The conference will provide a platform towards the end of the year for the business community to adequately strategize for the following year, based on the economic outlook as will be presented by a number of economic experts. The event will offer participants the opportunity to have insight into the plans and projections of managers of the economy and also foster a healthy business networking discussion among CEOs from top corporate institutions in Ghana that constitute the Ghana Club 100.

The event is being organized under the distinguished patronage of His Excellency , President John Dramani Mahama, the Minister of Finance and Economic Planning, Dr. Kwabena Duffour, the Minister of Trade and Industry , Ms Hanna Tetteh and the World Bank Country Director, Mr. Yusupha B. Crookes will deliver a number of keynote speeches and moderate some panel discussions.

In September of this year the GIPC organized the Ghana Club 100 awards to recognize the contribution of the private sector to the economic development of the country. The centre has as one its major objectives to facilitate the development of the private sector to enable it play its proper role as the "engine of growth of the economy. It is in this vain that the focus on the CEOs of the Club 100 member companies cannot be over emphasized.

Admission to this event is strictly by invitation. To register please visit www.ghanaeconomicoutlook.com

Upcoming Events

Wed Jun 20 @ 8:00AM - 05:00PM
Trade and Investment Promotion Mission to South Africa
Tue Jun 26 @ 8:00AM - 11:00AM
Second Quarter CEOs' Breakfast Meeting
Mon Jul 02 @ 8:00AM - 05:00PM
AFRICA CEO FORUM
Wed Jul 25 @ 8:00AM - 05:00PM
Young Entrepreneurs Forum 2018
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Investment Promotion Mission to Singapore
Wed Sep 05 @ 8:00AM - 05:00PM
Investment Promotion Mission to China