According to the Q3 report, FDI accounted for virtually all new capital commitments amounting to US$377.63 million while Ghanaian investors contributed a modest US$2.62 million, underscoring the continued reliance on foreign capital to drive large-scale projects.

Initial capital transfers during the period totalled US$13.06 million.

Investment registrations were similarly foreign-heavy. Of the 53 projects recorded, 41 (77.36%) were wholly foreign-owned, valued at US$371.18 million. Only 12 projects (22.64%) were joint ventures, contributing US$6.45 million in estimated value.

Manufacturing continued to outperform all other sectors by a wide margin, attracting 34 of the 53 projects far ahead of services (11 projects), agriculture (3), general trade (2), and single entries in building & construction, export trade, and tourism.

The sector also commanded the lion’s share of investment value, drawing US$332.74 million, more than 10 times the next highest sector. General trade followed with US$21 million, while export trade recorded US$12 million.

The Greater Accra Region absorbed the bulk of Q3 investment activity, securing 41 projects and reaffirming its status as Ghana’s commercial and industrial hub.

The remaining projects were thinly spread across the Western, Ashanti, Bono East, Eastern, and Savannah regions, signalling only limited progress toward geographically balanced investment distribution.

The Q3 data highlights three enduring dynamics in Ghana’s investment landscape:

1. Persistent dependence on foreign capital to finance major projects.

2. Manufacturing’s rising strategic importance in the country’s industrial and job creation agenda.

3. A widening gap in domestic investment participation, which continues to lag despite macroeconomic stabilisation efforts.