Ghana records $7.6b investment value from 514 projects registered in 2011
The Ghana Investment Promotion Centre (GIPC) on January 26, 2012 said it registered a total of 514 projects in 2011 – an increase of 33.51% compared to 385 registered projects in the corresponding period of 2010.
“The total estimated value of registered projects for 2011 was GH¢11.52 billion ($7.68 billion); a significant increase of 500.47% compared to 2010,” said the GIPC in a press release.
According to the GIPC, excluding the estimated value for the STX Housing deal of $2.5 billion and the Asanteman Hong Group Limited $3 billion project, the amount of $2.18 billion registered exceeded its target of $1.5 billion for the year 2011 and “the subsequent $2 billion mark stated in the third quarter report.”
The release indicated that the total initial capital transfers for the registered projects in 2011 amounted to GH¢319.94 million ($213.29 million) which was a significant increase of 262.49% compared to 2010.
Foreign direct investment (FDI) component of the estimated value of registered projects, GIPC says amounted to GH¢10.23 billion ($6.82 billion); an increase of 514.41% compared to the same period of 2010. “The local currency component amounted to GH¢1.296 billion ($864.08 million),” the Centre added.
Total number of jobs expected to be created from registered projects amounted to 46,761, the GIPC said.
By Ekow Quandzie