New companies invest $97m into Ghana’s economy second quarter 2011
Ghana’s economy has seen the injection of $97.03 million, that is GH¢145.55 million in the second quarter of 2011, according to the Ghana Investment Promotion Centre (GIPC).
In its second quarter 2011 report, the GIPC notes that 127 new projects have been registered and these have made total initial capital transfers of GH¢145.55 million or $97.03 million.
The total estimated value of the newly registered projects it says was GH¢900.45 million or $600.30 million.
The foreign direct investment (FDI) component of the estimated value of the projects registered during the period under review from April 1 to June 30, 2011 was GH¢828.44 million or $552.29 million, representing 92% of the total estimated value, and a local currency component of GH¢72.01 million or $48.00 million, representing 8%.
According to the GIPC the total foreign equity was GH¢445.02 million or $296.68 million and the initial equity transfers was GH¢145.55 million or $97.03 million for the period.
By Emmanuel K. Dogbevi