The highest investor in the services sector in Ghana is German company Redavia, an alternative and renewable energy business, which invested about $155.5 million in sales, marketing and other support services.
Nigerian online movie site, iRoko TV and its partners invested $30.8 million in software and IT services, making them the second largest investors in Ghana’s services sector in that year.
Foreign direct investments (FDIs) into Ghana’s services sector in 2017 amounted to $288.5 million, according to the fDi Markets. The fDi Markets is an online database service of the Financial Times that tracks crossborder greenfield investments covering all sectors and countries. It monitors investment projects, capital investment and job creation with tools to track and profile companies investing overseas.
Brussels Airlines also invested about $15.3 million in sales, marketing and other support services – making the company the third highest investor in services in 2017.
Financial services providers, Norfund, Zenith Bank, United Bank for Africa and Standard Chartered Bank together invested about $44 million in the Ghanaian economy in the year under consideration.
In total, 29 projects across all sectors received foreign investments in the Ghanaian economy with the services sector contributing 14 projects.
According to the report, Ghana attracted $9.1 billion in foreign direct investments representing 8 per cent share of the total foreign direct investments received by Middle East and Africa. This makes Ghana the second highest recipient of FDI in Africa, behind Egypt which received 32 per cent in 2017.
The oil and gas sector received the largest foreign investment in 2017 – in line with the global trend, where the coal, oil and natural gas sector received the highest capital investment of $ 79.6 billion.
In all, Ghana’s total foreign direct investment in 2017 generated 6,056 jobs across all sectors of the Ghanaian economy including 381 jobs generated from investment in the services sector.
By Bismark Elorm Addo
Copyright ©2018 by Creative Imaginations Publicity
All rights reserved. This report or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in reviews.
The post German company Radavia is top foreign investor in Ghana’s services sector, with total of $155.5m in 2017 – Report appeared first on Ghana Business News.
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