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Ghana targets $3bn in FDI flows for 2021
Ghana has set a very ambitious target of $3billion in Foreign Direct Investment for 2021. So far, the West African cocoa producer has raised about $780 million, according to the CEO of the Ghana Investment Promotion Centre, Yofi Grant, who says that hosting the secretariat of the Africa Continental Free Trade Area positions the country as a major Investment hub. He joins CNBC Africa now for more insight on their plans to achieve this target.
Mon, 21 Jun 2021 12:19:19 GMT
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AI Generated Summary
- Ghana aims to attract $3 billion in FDI for 2021, with $780 million already raised, positioning the country as an investment hub in Africa.
- The 'Ghana Cares' program, with a budget of 100 billion Ghanaian cedis, targets key industries to revitalize the economy and maintain a growth rate of 7%.
- Engaging the Ghanaian diaspora is seen as a key strategy to drive national development, with a conference in Accra planned to harness their potential contributions.
Ghana, the West African cocoa producer, has set an ambitious target of $3 billion in foreign direct investments for the year 2021. In a recent interview with Yofi Grant, the CEO of the Ghana Investment Promotion Center, it was revealed that the country has so far raised about $780 million towards this goal. Grant emphasized that hosting the secretariat of the African Continental Free Trade Area positions Ghana as a major investment hub, attracting interest from foreign investors. Despite the challenges posed by the pandemic, Grant remains optimistic about achieving the set target. He highlighted the need for Africa to capitalize on its rich resources by adding value internally and exporting finished products rather than raw materials. Grant also discussed the 'Ghana Cares' program, aimed at revitalizing key industries and boosting economic growth. The program has a budget of 100 billion Ghanaian cedis, with a target of $3 billion in FDI annually for the next four years. In addition, Grant underscored the importance of engaging Ghanaians in the diaspora, citing their potential to contribute capital, expertise, and new ideas to drive national development. Ghana is set to host a conference in Accra to further harness the power of the diaspora for economic growth and prosperity.
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