FDI figures for Ghana hit 1.3 billion dollars in September

Provisional  Foreign Direct Investments (FDI) figures for Ghana from January to September has hit 1.3 billion dollars. 

That is  according to provisional figures put forward by the  Ghana Investment Promotion Centre (GIPC).

The amount represents projects registered with the Centre by foreign investors and represents about a 100 percent jump from what was recorded for the same period last year.

Chief Executive of GIPC, Mawena  Trebah-Dumor, says the Centre's strategy has been to focus on sectors that are important to the development of Ghana and by providing assistance to the foreign investors.

"We make sure that we are meeting with investors who already have a commitment to make an investment...showing them very specific projects with timelines, with details of the initial capital outlay so they are very clear on what the specific opportunity is. So obviously it's easy for them [investors] to make a decision", she explained.

FDI inflows in 2012 represented 8.09% of Ghana's GDP, according to the World Bank.

Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor.

It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments.

[Story by George Wiafe. Additional reporting and editing by George Nyavor]