Tracing Ghana’s FDI Trends: 25 Years of Investment Under Four Administrations

Foreign Direct Investment (FDI) remains a key pillar in Ghana’s economic growth strategy. From just $114.9 million in 2000 to a high of $3.9 billion in 2019, the country's ability to attract foreign capital has evolved significantly across presidential administrations.

Ghana's Foreign Direct Investment (FDI) 2000 - 2024

1. The Kufuor Era (2000–2008): Foundations Amid Global Repositioning

Kicking off the millennium, Ghana's FDI was relatively modest, with inflows below $1 billion for much of Kufuor's administration. The country began attracting more attention post-2006, with inflows nearing $1.2 billion by 2008.

2. The Mills Administration (2009–2012): The Surge Begins

Under President Mills, FDI surged past the $2 billion threshold, reaching $3.3 billion by 2012. This reflected both policy reforms and Ghana's emergence as a stable investment destination.

3. The Mahama Years (2013–2016): Peak Investment Years

Ghana recorded consistent inflows exceeding $3 billion annually during Mahama’s presidency. .

4. Akufo-Addo Era (2017–2024): Decline and Uncertainty

While early years of the Akufo-Addo administration maintained strong FDI, inflows declined sharply after 2020. The highest FDI inflow in the country’s history $3.9 billion was recorded in 2019, just before the onset of global economic slowdowns. By 2023, Ghana attracted just $1.3 billion one-third of the 2019 high. This decline may reflect investor caution amid global shocks, currency instability, and domestic debt restructuring.

FDI remains a critical barometer of Ghana's economic health. Policymakers must address fiscal and regulatory uncertainty to restore investor confidence. With 2024 figures still below historical highs, the question remains: can Ghana reignite its FDI engine?

Visual inspired by a previous post from: @thecableindex on X