China leads foreign direct investment into Ghana in 2023

China emerged as the top destination for foreign direct investment (FDI) in Ghana in 2023, with 31 projects contributing the highest FDI value of $211.89 million.

The United States followed with 14 projects, totalling $26.39 million, while India ranked third with 13 projects and an FDI of $77.93 million.

The Netherlands and Turkey also featured prominently, with the Netherlands adding nine projects worth $21.86 million and Turkey contributing four projects with a substantial FDI value of $173.27 million.

Mauritius stood out as the leading African investor in Ghana for the year.

Despite a 63% decline in the number of investment deals, the value of investments from Mauritius surged by an impressive 891%, making it the only African country among the top investors in Ghana in 2023.

Significant investment projects in Ghana during 2023 included Arsan Ghana Ltd, a Turkish company investing $156.05 million in affordable housing; Cimpor Ghana Limited, a Portuguese firm investing $53.42 million in calcined clay cement; and SEC Minerals Ltd, a foreign-owned gold mining company, with a $50 million investment.

Additional major investments came from Chinese firms: Bright Cement Ghana Ltd, a cement manufacturer, invested $40.65 million, while Fuxing Industries Ghana Ltd, specializing in steel structure manufacturing, committed $38.87 million.