Ghana‘s Foreign Direct Investment inflows (FDI) declined during the first half of 2013.
Compared to the same period last year, the country’s Foreign Direct Investment inflows decreased to 1.5 billion dollars, slightly lower than last year’s 1.6 billion dollars.
According to the latest Global investment trends monitored by the UN Conference on Trade and Industry Ghana’s FDI inflows declined by 11 percent in the period under review.
The report however stated that in spite of the decline in Ghana’s Foreign Direct Investment inflows for this 2013, future prospects look positive.
It says though the country has seen massive increase in investments in the oil and gas sector the set up a vehicle-assembly plant by Mahindra will lead to an increase in investments in the automotive industry in the country.
Mahindra, a large Indian automotive manufacturer is looking to set up a vehicle-assembly plant in partnership with a local Ghanaian firm soon.
The move is has raised hopes for a diversification of investments away from the oil and mining sectors.
Meanwhile FDI flows to Africa decreased by 5% in the first half of 2013, compared to the same period in
Two of the continent's five sub-regions North Africa and Southern Africa recorded positive growth rates.
Flows to Algeria and Morocco rose, and FDI inflows to South Africa resumed their growth.
In Sub-Saharan Africa, Nigeria attracted inflows of US$2.6 billion, in the first six months of the year less than half last year’s record US$7 billion.
However, Nigeria’s inflows are expected to rise sharply on the back of recent efforts to attract industrial and manufacturing investments and its market growth prospects.
Nissan, for example, recently announced significant investments in the car industry in that country.
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